Question: Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula when price decreases

Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula when price decreases from $9 to $7 is Price $ 10 9 8 7 6 Quantity Demanded 30 40 Se 60 70 Multiple Choice a 0.63 Multiple Choice 0.63 116 16 2.27

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