(Table) According to the Table, What Is the Price Elasticity

question 248

Multiple Choice

(Table) According to the table, what is the price elasticity of honey when the price of a jar of honey is between $2 and $4 (use the midpoint method to calculate your answer) ?
$\begin{array}{|l|l|}\hline \begin{array}{l}\text { Price of a Jar } \\\text { of Honey }\end{array} & \begin{array}{l}\text { Quantity of Honey } \\\text { (millions of jars) }\end{array} \\\hline \$ 2 & 10 \\\hline 4 & 8 \\\hline 6 & 6 \\\hline\end{array}$

• A) 0.33
• B) 3.00
• C) 0.50
• D) 5.00

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