Using the midpoints method, calculate the price elasticity of demand of good x using the following information: when the price of good x is $50, the quantity demanded of good x is 400 units. when the price of good x rises to $60, the quantity demanded of good x falls to 300 units.
a. the price elasticity of demand for good x -123 e
b. the price elasticity of demand for good x -1.57.
c. the price elasticity of demand for good x-0.64
Answers: 1
= 0.1818
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