When the price of candy bars is $1.00, the quantity demanded is 500 per day. When the price falls to $0.80, the quantity demanded increases to 600. Given this information and using the midpoint method, we know that the demand for candy bars is
Inelastic T/F

This statement is true.

Explanation:

The price elasticity of demand measures the change in quantity demanded of a commodity because of a rise in the price of a commodity.

The midpoint method of calculating elasticity finds the elasticity of demand between two points on the same demand curve.

The midpoint price elasticity of demand is

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= -0.822

So we see that the midpoint elasticity of demand is less than 1, which means demand is inelastic.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%