Figure 5-8. A demand curve is shown on the graph below. On the graph, Q represents quantity demanded and P represents price.

-Refer to Figure 5-8.Using the midpoint method,between prices of $48 and $54,price elasticity of demand is about
A)0.92.
B)3.89.
C)4.33.
D)5.67.

Question

Figure 5-8. A demand curve is shown on the graph below. On the graph, Q represents quantity demanded and P represents price.
 
-Refer to Figure 5-8.Using the midpoint method,between prices of $48 and $54,price elasticity of demand is about
A)0.92. 
B)3.89. 
C)4.33. 
D)5.67.

Quizplus · Accepted Answer

The Answer of Figure 5-8. A demand curve is shown on the graph below. On the graph, Q represents quantity demanded and P represents price.
 
-Refer to Figure 5-8.Using the midpoint method,between prices of $48 and $54,price elasticity of demand is about
A)0.92. 
B)3.89. 
C)4.33. 
D)5.67.