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Question: when a price of a bar of chocolate is 100...

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When a price of a bar of chocolate is $1.00, demand is 100,000 bars. When the price rises to $1.50, demand falls to 60,000 bars. Calculate the price elasticity of demand according to the instructions below.

r quick access, place your bookmarks here on the bookmarks bar. Import bookmarks now.. 10.00 points When the price of a bar of chocolate is $1.00, demand is 100,000 bars. When the price ri Instructions: Round your answers to two decimal places. Do not include a minus sign. a. Suppose price increases from $1.00 to $1.50. The price elasticity of demand in terms of percentage change is b. Suppose price decreases from $1.50 to $1.00 The price elasticity of demand in terms of percentage change is c. Suppose price increases from $1.00 to $1.50 The price elasticity of demand using the mid-point method is d. Suppose price decreases from $1.50 to $1.00. The price elasticity of demand using the mid-point formula is References eBook & Resources Learning Objective:04-01 Calculate price elasticity of demand using the mid-point method Numeric Response 24
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