Business, 12.03.2020 08:12, Kinkela

Hello fellow Scholars, this is my question down below

Using the midpoints method, calculate the price elasticity of demand of Good X using the following information: When the price of good X is $50, the quantity demanded of good X is 400 units. When the price of good X rises to $60, the quantity demanded of good X falls to 300 units.

Group of answer choices

The price elasticity of demand for good X = 0.64.

The price elasticity of demand for good X = 0.85.

The price elasticity of demand for good X = 1.23.

Answers: 2

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Hello fellow Scholars, this is my question down below

Using the midpoints method, calcul...