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When the price of a burrito increases from $2 to $4, the quantity demanded decreases from 50 to 40. Using the midpoint method, the price elasticity of demand equals:_________a. 2.b. 1/2.c. 3.d. 1/3.e.
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When the price of a burrito increases from $2 to $4, the quantity demanded decreases from 50 to 40. Using the midpoint method, the price elasticity of demand equals:_________a. 2.b. 1/2.c. 3.d. 1/3.e. 1.

User Jpllosa
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Answer:

The correct answer is d. 1/3

good luck

User Haughtonomous
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