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Suppose the price of a pint of ice cream decreases from $5.50 to $5.00 and, as a result, the quantity of pints demanded increases from 600 to 700.

Suppose the price of a pint of ice cream decreases from $5.50 to $5.00 and, as a result, the quantity of pints demanded increases from 600 to 700. Using the midpoint method, the price elasticity of demand for ice cream in the given price range is


1.62

1.83

0.62

0.55

1.43

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