ECN 104 Lecture Notes - Motor Oil, Chocolate Chip Cookie, Twinkie
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Using the midpoint method, what is the price elasticity of demand for twinkies in the given price range: 0. 64, 1. 00, 0. 75, 1. 56. What is the elasticity of demand from point a to point b, using the midpoint method: 0. 4, 1, 1. 5, 2. 5, refer to figure 5-1. It gets smaller, then larger: it gets larger, it gets larger, then smaller. It gets smaller: get smart university is contemplating increasing tuition to increase revenue. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. It gets flatter and the price elasticity of demand will eventually be less than 1: it gets steeper and the price elasticity of demand will eventually be greater than 1. It gets flatter and the price elasticity of demand will eventually be greater than 1: it gets steeper and the price elasticity of demand will eventually be less than 1.