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Author Question: Refer to the information provided in Figure 5.3 below to answer the question(s) that follow. Refer ... (Read 32 times)

hubes95

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Refer to the information provided in Figure 5.3 below to answer the question(s) that follow.










Refer to Figure 5.3. Using the midpoint formula, if the price of a gardenburger decreases from $7 to $6, the price elasticity of demand equals ________, and the decrease results in a(n) ________ in total revenue.


◦ -.13; decrease
◦ -.69; increase
◦ -1.44; increase
◦ -13; increase


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Marked as best answer by hubes95 on Apr 19, 2019

Hdosisshsbshs

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