When the Price of a Good Is $5,the Quantity Demanded

question 50

Multiple Choice

When the price of a good is $5,the quantity demanded is 120 units per month;when the price is $7,the quantity demanded is 100 units per month.Using the midpoint method,the price elasticity of demand is about

• A)0.55.
• B)1.83.
• C)2.
• D)10.

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Definitions:

Anion

A negatively charged ion, attracted to the anode during electrolysis, typically formed by the gain of electrons.

Anion

A negatively charged ion, which is formed when an atom gains one or more electrons.

KCN

Potassium cyanide, a highly toxic compound that can release cyanide ions in solution, used in various industrial processes and, historically, in gold mining.

CN-

The cyanide ion, a negatively charged molecule consisting of one carbon and one nitrogen atom, known for its high toxicity.