Suppose When the Price of a Can of Tuna Is

question 90

Multiple Choice

Suppose when the price of a can of tuna is $1.30,the quantity demanded is 9,and when the price is $1.50,the quantity demanded is 7.Using the mid-point method,the price elasticity of demand is:

• A) -1.75
• B) -0.57
• C) 0.57
• D) 29 percent

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