Suppose When the Price of Mascara Is $12,the Quantity Demanded

question 114

Multiple Choice

Suppose when the price of mascara is $12,the quantity demanded is 400,and when the price is $8,the quantity demanded is 500.Using the mid-point method,the price elasticity of demand is:

• A)0.56.
• B)1.8.
• C)56.
• D)180.

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Definitions:

Offspring

The biological children or young produced by an organism, either through sexual or asexual reproduction.

Symbiotic Relationships

Close interactions between species that live together, often mutually beneficial, but can also include parasitic and commensal relationships.

Parasitism

Symbiotic relationship in which one species (the parasite) benefits in terms of growth and reproduction, to the detriment of the other species (the host).

Mutualism

Symbiotic relationship in which both species benefit in terms of growth and reproduction.