A golf practice range raised its quantity demanded of Callaway golf balls from 10 to 15 cases per month when the price fell from $21 to $17 per case of 12. Using the midpoint method, the range's price elasticity of demand for the Callaway balls is O -0.80 O 0.40 O 0.90 O -1.25 O -1.9

A golf practice range raised its quantity demanded of Callaway golf balls from 10 to 15 cases per month when the price fell from $21 to $17 per case of 12. Using the midpoint method, the range's price elasticity of demand for the Callaway balls is O -0.80 O 0.40 O 0.90 O -1.25 O -1.9

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A golf practice range raised its quantity demanded of Callaway golf balls from 10 to 15 cases per month when the price fell from $21 to $17 per case of 12. Using the
midpoint method, the range's price elasticity of demand for the Callaway balls is
O -0.80
O 0.40
O 0.90
O -1.25
O -1.9

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