Question: The Google Play and Apple App Stores each have over a million apps available for download. One of the top selling apps on the Google

The Google Play and Apple App Stores each have over a million apps available for download. One of the top selling apps on the Google Play store is Minecraft. Suppose Minecraft previously received 5,500 downloads per day at a price of 53.49 but has now decided to decrease the price to 5195. They now receive 6,000 downloads per day. Which of the following statements are true: D A 1% decrease in the price of downloading Minecraft from $5.49 to 5199 leads to a greater than 1% increase in the number of downloads per day. C] The point price elasticity of demand for Minacraltat a price of $3.49 is 0.5355 {to 4 decimal places). D The point price elasticity of demand for Minecraftat a price of $159 is 53.55% [to two decimal places]. C] The point price elasticity of demand for Minacraltat a price of $199 is perfectly inelastic {approximately zero)

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