Table 5-2 The Following Table Shows a Portion of the Demand Schedule

question 62

Multiple Choice

Table 5-2
The following table shows a portion of the demand schedule for a particular good at various levels of income.

-Refer to Table 5-2.Using the midpoint method,when income equals $5,000,what is the price elasticity of demand between $8 and $12?

• A) 0.56
• B) 0.75
• C) 1.33
• D) 1.80