Using the midpoint formula for calculating the elasticity of demand, if the price of a good fell from $42 to $38, what would be the elasticity of demand if the quantity demanded changed from 19 to 21? 27 to 33? 195 to 205?
Using the midpoint formula for calculating the elasticity of demand, if the price of a good fell from $42 to $38, what would be the elasticity of demand if the quantity demanded changed from 19 to 21? 27 to 33? 195 to 205?
Chapter6: Elasticities
Section: Chapter Questions
Problem 5P
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- Using the midpoint formula for calculating the
elasticity of demand , if the price of a good fell from $42 to $38, what would be the elasticity of demand if the quantity demanded changed from - 19 to 21?
- 27 to 33?
- 195 to 205?
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