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nguyenduong67 nguyenduong67
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6 years ago
Suppose that in a month the price of movie rentals decreases from $3.25 to $3. At the same time, the quantity of movie rentals demanded increases from 100 to 120. The price elasticity of demand for movie rentals (calculated using the midpoint formula) is
A) inelastic.
B) unitary elastic.
C) elastic.
D) zero.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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tristiontristion
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nguyenduong67 Author
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6 years ago
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