When the price of movies decreases from $15 to $10, the number of tickets sold increases from

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When the price of movies decreases from $15 to $10, the number of tickets sold increases from 3000 to 5000. What is the price elasticity of demand using the midpoint formula?

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Posted Date: Jan 17, 2021 05:39 AM

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When the price of movies decreases from $15 to $10, the number of tickets sold increases from

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P 1 15 P 2 10 Q 1 3000 Q 2 5000 Using the midpoint formula Pric... View the full answer

Principles of economics

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