Mathematics, 19.03.2020 00:24 michellelirett

The price of notebooks is $5, and at that price consumers demand 12 notebooks. If the price rises to $7, consumers will decrease consumption to 4 notebooks. Using the midpoint formula, what is the price elasticity of demand for notebooks?

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The price of notebooks is $5, and at that price consumers demand 12 notebooks. If the price rises to...