Price Elasticity of Demand Formula | Calculation and Examples
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SOLVED: The data in the table shows the price and quantity supplied for running shoes. Using the Midpoint Method, what is the price elasticity of supply from point B to point C?Note: Remember to take the absolute value of the result and round to the nearest hundredth. If using a calculator, rounding should be done at the end of your calculation.Point Price QuantityA 120 10,000B125 10,400C 130 10,800D135 11,200E 140 11,600
SOLVED: The data in the table shows the price and quantity supp…
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