Table 5-4
The following table shows the demand schedule for a particular good.
-Refer to Table 5-4. Using the midpoint method, when price rises from $8 to $12, the price elasticity of demand is
A) 0.4
B) 1
C) 1.5
D) 2.33

Question

Table 5-4
The following table shows the demand schedule for a particular good. 
-Refer to Table 5-4. Using the midpoint method, when price rises from $8 to $12, the price elasticity of demand is
A) 0.4 
B) 1 
C) 1.5 
D) 2.33

Quizplus · Accepted Answer

The Answer of Table 5-4
The following table shows the demand schedule for a particular good. 
-Refer to Table 5-4. Using the midpoint method, when price rises from $8 to $12, the price elasticity of demand is
A) 0.4 
B) 1 
C) 1.5 
D) 2.33

Table 5-4 The Following Table Shows the Demand Schedule for a Particular