question archive Suppose that as the price of Y falls from $2
Suppose that as the price of Y falls from $2
Subject:EconomicsPrice:2.88 Bought3
Suppose that as the price of Y falls from $2.00 to $1.90, the quantity of Y demanded increases from 110 to 118. Then the price elasticity of demand is (based on the midpoint formula): a )4.0. b) 2.1. c)3.9. d) 1.4.
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