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At a Price of $100, Beachside Canoe Rentals Rented 11

Question 27

Multiple Choice
At a price of $100, Beachside Canoe Rentals rented 11 canoes.When it increased its rental price to $125, 9 canoes were rented.Calculate the absolute value of the price elasticity of demand for canoe rentals using the midpoint formula. A)2 B)1.25 C)0.9 D)0.75

At a price of $100, Beachside Canoe Rentals rented 11 canoes.When it increased its rental price to $125, 9 canoes were rented.Calculate the absolute value of the price elasticity of demand for canoe rentals using the midpoint formula.


A) 2
B) 1.25
C) 0.9
D) 0.75

Correct Answer:

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