When the Price of a Cup of Coffee Falls from $3.00

question 331

Multiple Choice

When the price of a cup of coffee falls from $3.00 to $2.50,the quantity demanded increases from 1,000 per month to 1,150 per month.Using the midpoint method,the price elasticity of demand is

• A) 0.77.
• B) 1.30.
• C) 0.07.
• D) 3.00.
• E) 2.50.

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