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16. At a price of $4, quantity demanded is 100; and at a price of $6,...

16. At a price of $4, quantity demanded is 100; and at a price of $6, quantity demanded is 120. Using the midpoint formula, the price elasticity of demand is ________ and demand is ________.

A) 0.1; inelastic

B) 0.45; inelastic

C) -2.2; elastic

D) -10; elastic

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Answer #1

OPTION B

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