(Figure: Interpreting Price Changes) Based on the graph, if the price of shoes increases from $40 to $80 (from point d to point b), the absolute value of the price elasticity of demand (using the midpoint method) is

A) 0.66.
B) 1.
C) 1.5.
D) 0.75.

Question

(Figure: Interpreting Price Changes) Based on the graph, if the price of shoes increases from $40 to $80 (from point d to point b) , the absolute value of the price elasticity of demand (using the midpoint method) is

A) 0.66. 
B) 1. 
C) 1.5. 
D) 0.75.

Quizplus · Accepted Answer

The Answer of (Figure: Interpreting Price Changes) Based on the graph, if the price of shoes increases from $40 to $80 (from point d to point b), the absolute value of the price elasticity of demand (using the midpoint method) is

A) 0.66. 
B) 1. 
C) 1.5. 
D) 0.75.

(Figure: Interpreting Price Changes) Based on the Graph, If the Price