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Suppose that in a month the price of pizza increases from $4 to $5. At the same time, the quantity of pizzas demanded decreases from 200 to 190. The price elasticity of demand for pizza (calculated using the midpoint formula) is
Cretaceous
A geological period from about 145 to 66 million years ago, known for the dominance of dinosaurs and ending with their mass extinction.
Pleistocene
The geological epoch lasting from about 2.6 million to 11,700 years ago, characterized by the last period of significant ice ages.
Triassic
A geologic period and system that spans from about 252 to 201 million years ago, marking the beginning of the Mesozoic Era.
Carboniferous
The Carboniferous is a geologic period and system that extends from about 359 to 299 million years ago, known for its vast coal deposits.
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