When the Price of Candy Bars Decreased from $0

question 171

Multiple Choice

When the price of candy bars decreased from $0.55 to $0.45, the quantity demanded changed from 19,000 per day to 21,000 per day. In this price range, the price-elasticity coefficient (based on the midpoint formula) for candy bars is

• A) 1.
• B) 2.
• C) 0.2.
• D) 0.5.

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