Business, 10.09.2019 22:30 kiekie1986

When the price of a bar of chocolate is $1, 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 and express your answer in absolute value. a. suppose price increases from $1 to $1.50. calculate the price elasticity of demand in terms of percent change. b. suppose price decreases from $1.50 to $1. calculate the price elasticity of demand in terms of percent change. c. suppose the price increases from $1 to $1.50. calculate the price elasticity of demand using the mid-point method. d. suppose the price decreases from $1.50 to $1. calculate the price elasticity of demand using the mid-point method.

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When the price of a bar of chocolate is $1, demand is 100,000 bars. when the price rises to $1.50, d...

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