If the Price Falls from $3 to $2 and the Quantity

question 78

Multiple Choice

If the price falls from $3 to $2 and the quantity demanded rises from 200 to 400 units, the price elasticity of demand using the midpoint method is

• A) 2.00.
• B) 1.67.
• C) 0.67.
• D) 0.33.

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