-Using the Data in the Table Above,when the Price of a Skirt

question 151

Multiple Choice

-Using the data in the table above,when the price of a skirt rises from $20 to $35,what is the price elasticity of demand? (Use the midpoint method.)

• A) 0.33
• B) 0.25
• C) 1.00
• D) 1.33
• E) 3.00

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