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ochrelouse84Lv1
28 Sep 2019
Using the midpoint method, calculate the price elasticity of demand for Good X using the following information: When the price of good X is $50, the quantity demanded of good X is 400 units. When the price of good X rises to $60, the quantity demanded of good X falls to 300 units.
A. The price elasticity of demand for good X = 0.64.
B. The price elasticity of demand for good X = 1.57.
Using the midpoint method, calculate the price elasticity of demand for Good X using the following information: When the price of good X is $50, the quantity demanded of good X is 400 units. When the price of good X rises to $60, the quantity demanded of good X falls to 300 units.
A. The price elasticity of demand for good X = 0.64.
B. The price elasticity of demand for good X = 1.57.
viclere2005Lv10
8 May 2023
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2 Mar 2023
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Darryn D'SouzaLv10
28 Sep 2019
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