When the Price of Pistachio Nuts Is $7

question 83

Multiple Choice

When the price of pistachio nuts is $7.50 per lb.the quantity demanded is 48 lbs.When the price of pistachio nuts is $9.00 per lb.the quantity demanded is 40 lbs.When the midpoint formula is used to measure the price elasticity of demand we can say that the demand for pistachio nuts is

• A)relatively, but not perfectly, elastic.
• B)unit elastic.
• C)completely inelastic.
• D)relatively, but not perfectly, inelastic.

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