Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula)when price decreases from $9 to $7 is
A)0.63.
B)1.16.
C)1.6.
D)2.27.

Question

Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula)when price decreases from $9 to $7 is 
A)0.63. 
B)1.16. 
C)1.6. 
D)2.27.

Quizplus · Accepted Answer

The Answer of Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula)when price decreases from $9 to $7 is 
A)0.63. 
B)1.16. 
C)1.6. 
D)2.27.

Suppose You Are Given the Following Data on Demand for a Product