Suppose That,as the Price of Product H Falls from $5

question 49

Multiple Choice

Suppose that,as the price of product H falls from $5 to $4,the quantity of H demanded increases from 2,000 to 6,000 units.In this case,what is the elasticity of demand,using the midpoint formula?

• A).9
• B).4
• C)4.5
• D)1.6
• E)3.0

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