Suppose that the price of product G increases from $10 to $20 and,in response,quantity demanded declines from 100 to 80.Using the midpoint formula,what is the elasticity of demand?
A).5
B)3
C).67
D).33
E)2

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The Answer of Suppose that the price of product G increases from $10 to $20 and,in response,quantity demanded declines from 100 to 80.Using the midpoint formula,what is the elasticity of demand?
A).5
B)3
C).67
D).33
E)2

Suppose That the Price of Product G Increases from $10