Suppose When the Price of Calculators Is $18,the Quantity Demanded

question 47

Multiple Choice

Suppose when the price of calculators is $18,the quantity demanded is 90,and when the price is $22,the quantity demanded drops to 70.Using the mid-point method,the price elasticity of demand is:

• A) 1.25
• B) 25 percent
• C) 20 percent
• D) 25

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