Business, 05.03.2020 00:48 ciralove2004

Suppose the price of Twinkies is reduced from $1.45 to $1.25 and, as a result, the quantity of Twinkies demanded increases from 2,000 to 2,200. Using the midpoint method, the price elasticity of demand for Twinkies in the given price range is
a. 2.00.
b. 1.55.
c. 1.00.
d. .64.

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Suppose the price of Twinkies is reduced from $1.45 to $1.25 and, as a result, the quantity of Twink...