Suppose When the Price of a Can of Tuna Is

question 55

Multiple Choice

Suppose when the price of a can of tuna is $1,the quantity demanded is 250,and when the price is $2,the quantity demanded is 100.Using the mid-point method,the price elasticity of demand is:

• A)1.28.
• B)0.78.
• C)128 percent.
• D)78 percent.