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If 50 Units Are Sold at a Price of $20

Question 4

Multiple Choice
If 50 units are sold at a price of $20 and 80 units are sold at a price of $15, what is the absolute value of the price elasticity of demand? Use the midpoint formula. A)0.17 B)0.62 C)1.62 D)5

If 50 units are sold at a price of $20 and 80 units are sold at a price of $15, what is the absolute value of the price elasticity of demand? Use the midpoint formula.


A) 0.17
B) 0.62
C) 1.62
D) 5

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