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Business, 20.02.2020 18:46 giordanolucia18

When the price of bubble gum is $0.50, the quantity demanded is 400 packs per day. When the price falls to $0.40, the quantity demanded increases to 600. Given this information and using the midpoint method, you know that the demand for bubble gum is

elastic

could someone go over the math part so I can understand why it is elastic

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When the price of bubble gum is $0.50, the quantity demanded is 400 packs per day. When the price fa...

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