Suppose when the price of pineapples goes from $5 to $3 per pineapple,production decreases from 3,500 pineapples to 2,000 pineapples per year.Using the mid-point method,the percentage change in price would be:
A) 0.50
B) 50 percent
C) 0.54
D) 54 percent
Correct Answer:
Verified
Q107: Gasoline and motel rooms are complements for
Q108: A rare coin dealer is likely to
Q109: A baker of chocolate chip cookies is
Q110: Suppose when the price of coffee beans
Q111: A tavern is likely to have a
Q113: The price elasticity of supply tells us:
A)
Q114: The price elasticity of supply is _
Q115: Which elasticity measures producers' responsiveness to a
Q117: How much the demand for one good
Q134: An automobile manufacturing plant is likely to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents