Question: If price changed from P1 to P2, causing quantity demanded to change from Q1 to Q2: using the midpoint method; what is the percentage change

If price changed from P1 to P2, causing quantity demanded to change from Q1 to Q2: using the midpoint method; what is the percentage change in quantity?

Select one:

a.

-66.67%

b.

0.6667

c.

-0.6667

d.

66.67%

Price Quantity Price Quantity Income Quantity

P1 9.00 Q1 1.000 Py1 8.00 Qx1 2.000 Income1 $28,000.00 Q1 50.00

P2 8.00 Q2 2.000 Py2 7.00 Qx2 3.000 Income2 $30,000.00 Q2 52.00

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