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decreases from 100 to 90. The price elasticity of demand for apples (calculated using the initial value formula) is __________ . A. 0.02B. 0.9C. 1D. 1.1
Question 6 of 205.0/ 5.0 PointsA change in the quantity demanded of a product is the result of a change in __________ . Question 7 of 205.0/ 5.0 PointsSuppose that in a month the price of tulips increases from $1 to $1.50. At the same time, the quantity of tulips demanded decreases from 200 to 190. The price elasticity of demand for tulips (calculated using the initial value formula) is __________ . Question 8 of 205.0/ 5.0 PointsThe ratio of the percentage change in quantity demanded to the percentage change in price is known asthe __________ . Question 9 of 200.0/ 5.0 PointsThe midpoint formula for elasticity of demand solves the problem of __________ . A. whether elasticity of demand is really positive or negativeB. whether to use quantity or price in the numeratorC. which price or quantity to use as the initial value of the variableD. whether to use quantity demanded or suppliedQuestion 10 of 205.0/ 5.0 PointsSuppose that Victoria and her friends are running a fundraiser by selling donuts. They want to know