Suppose the Price of Mascara Is $12 and the Quantity

question 77

Multiple Choice

Suppose the price of mascara is $12 and the quantity demanded is 450. When the price drops to $8, the quantity demanded increases to 550. Using the mid-point method, what is the price elasticity of demand?

• A) −0.5
• B) −2.0
• C) −55
• D) −180

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