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Question 12 / 2 ptsFor the next 6 questions, use the graph above. USING THE MIDPOINT METHOD, whatis the absolute value of the price elasticity of demand between P=100 and P=80?0.33330.50.7511.52
2.533.5Question 22 / 2 ptsThe value found in the above question is considered to be:
Question 32 / 2 ptsSuppose that at this point, producers raised the price by 5%. What would happen to quantity demanded as a result?
it would fall by 5%it would rise by more than 5%it would fall by more than 5%it would rise by less than 5%it would fall by less than 5%Question 42 / 2 ptsUSING THE MIDPOINT METHOD, what is the absolute value of the price elasticity of demand between P=40 and P=20?
1.522.533.5Question 52 / 2 ptsThe value found in the above question is considered to be:elasticunit elasticinelastic
Question 62 / 2 pts
Suppose that at this point, producers raised the price by 5%. What would happen to quantity demanded as a result?
Question 72 / 2 ptsThe following graph below represents a linear demand function.
Use the graph to answer the following questions. Elasticity values are greater than 1 (in absolute value) in the portion of the graph described by letter _____.
Question 82 / 2 ptsElasticity values are less than 1 (in absolute value) in the portion of the graph described by letter _____.

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