When the price of pencils decreases from $3 to $1,the quantity demanded increases from 100 to 200 pencils.By the midpoint method,the price elasticity of demand equals:
A)0.17.
B)0.5.
C)0.67.
D)1.5.

Name: When the price of pencils decreases from $3 to $1,the quantity demanded increases from 100 to 200 pencils.By the midpoint method,the price elasticity of demand equals: A)0.17. B)0.5. C)0.67. D)1.5.
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Quizplus · Accepted Answer

The Answer is C

When the Price of Pencils Decreases from $3 to $1,the