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 absolute value of the price elasticity (using the midpoint formula) is:
A. 4.00.
B. 2.09
C. 1.37.
D. 3.94.
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