jordanervin1781 jordanervin1781

08-03-2024
Business

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Using the midpoint formula, calculate the price elasticity of demand given the following information:
Price Quantity Demanded
Point A: $75 1,500
Point B: $100 1,000
What is the price elasticity of demand?
A) 0.5
B) 1.0
C) 1.5
D) 2.0
E) 2.5

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