Suppose the price of a bag of frozen chicken nuggets decreases from $6.50 to $5.75 and, as a result, the quantity of bags demanded increases from 600 to 800 . Using the midpoint method, the price elasticity of demand for frozen chicken nuggets in the given price range is

a. 0.35.
b. 0.43.
c. 2.33.
d. 2.89.


c

Economics

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