Business, 06.08.2019 02:30 sonnyboi2305
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. elastic.
b. zero.
c. inelastic.
d. unitary elastic.
Answers: 1
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