As the price of bananas fell from $060 to $0.40 per pound, the quantity demanded rose from 300 pounds of bananas consumed to 500 pounds of bananas consumed. The absolute value of the price

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Elasticity
Section: Chapter Questions
Problem 2WNG: As the price of good X rises from 10 to 12, the quantity demanded of good Y rises from 100 units to...
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As the price of bananas fell from $0.60 to $0.40 per pound, the quantity demanded rose from 300 pounds of bananas consumed to 500 pounds of bananas consumed. The absolute value of the price
elasticity of demand using the midpoint method is
Mutiple Choice
0.80
150
125
O 100
Transcribed Image Text:As the price of bananas fell from $0.60 to $0.40 per pound, the quantity demanded rose from 300 pounds of bananas consumed to 500 pounds of bananas consumed. The absolute value of the price elasticity of demand using the midpoint method is Mutiple Choice 0.80 150 125 O 100
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