Studies indicate that the price elasticity of demand for beer is about 0.9.A government policy aimed at reducing beer consumption changed the price of a case of beer from $10 to $20.According to the midpoint method,the government policy should have reduced beer consumption by
A)30%.
B)40%.
C)60%.
D)74%.

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The Answer of Studies indicate that the price elasticity of demand for beer is about 0.9.A government policy aimed at reducing beer consumption changed the price of a case of beer from $10 to $20.According to the midpoint method,the government policy should have reduced beer consumption by
A)30%.
B)40%.
C)60%.
D)74%.

Studies Indicate That the Price Elasticity of Demand for Beer