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

Suppose you are given the following data on demand for a product. The price elasticity of demand (based on the midpoint formula) when the price decreases from $8 to $7 is

PriceQuantity Demanded

1030

940

850

760

670

A) 0.73.

B) 0.14.

C) 1.38.

D) 1.43.

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