-In the figure above, using the midpoint method, what is the price elasticity of demand when the price falls from $8 to $7?
A) 0.4
B) 5.0
C) 4.0
D) 0.5
E) 0.25

Question

-In the figure above, using the midpoint method, what is the price elasticity of demand when the price falls from $8 to $7?
A) 0.4 
B) 5.0 
C) 4.0 
D) 0.5 
E) 0.25

Quizplus · Accepted Answer

The Answer of 
-In the figure above, using the midpoint method, what is the price elasticity of demand when the price falls from $8 to $7?
A) 0.4 
B) 5.0 
C) 4.0 
D) 0.5 
E) 0.25

-In the Figure Above, Using the Midpoint Method, What Is