Suppose When the Price of a Cookie Is $2

question 85

Multiple Choice

Suppose when the price of a cookie is $2.50,the quantity demanded is 50,and when the price is $1,the quantity demanded is 200.Using the midpoint method,the price elasticity of demand is:

• A) -1.40
• B) -0.72
• C) -140
• D) -7.2

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