Suppose the Price of Local Cable TV Service Increased From$15

question 48

Multiple Choice

Suppose the price of local cable TV service increased from$15.00 to$20.00 and as a result the number of cable subscribers decreased from 248,000 to 200,000. Along this portion of the demand curve, using the midpoint method, price elasticity of demand is approximately

• A)1.33.
• B)0.72.
• C)4.
• D)0.6.

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Set of step-by-step instructions compiled by an organization to help workers carry out routine operations aiming to achieve efficiency, quality output, and uniformity of performance.

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