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Interpretation of Price Elasticity of DemandThe table shows the quantity demanded for bouncy balls ...

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Interpretation of Price Elasticity of DemandThe table shows the quantity demanded for bouncy balls ...

Interpretation of Price Elasticity of Demand

The table shows the quantity demanded for bouncy balls at various prices.

Point	Price	Quantity Demanded
A	1	1040

1000

960

920

880

Using the midpoint formula, the price elasticity of demand between A and B is ________. At this point, the demand curve is ________ (elastic/inelastic). Round your final answer to two decimal places.

▸ -0.06, inelastic

▸ -208, elastic

▸ -208, inelastic

▸ -0.06, elastic

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 87 times

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