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Tidy Tidy
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Posts: 4852
8 years ago
Suppose that when the price per ream of recycled printer paper rises from $4 to $4.50, the quantity demanded falls from 800 to 600 reams per day. Using the midpoint formula, what is the price elasticity of demand (in absolute value) over this range?
A) 0.003
B) 0.41
C) 2.43
D) 4
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Chimelo46Chimelo46
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Posts: 5641
8 years ago
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wrote...
8 years ago
The textbook reference in your signature really helped me narrow it down.

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