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If price changed from P1 to P2, causing quantity demanded for good X to change from Q1 to Q2: using the midpoint method; what is
If price changed from P1 to P2, causing quantity demanded for good X to change from Q1 to Q2: using the midpoint method; what is the Price Elasticity of demand? is the demand for good X elastic?inelastic?unit elastic? Select one:
a. 1; unit elastic
b. -5.6; elastic
c. -1; unit elastic
d. -5.6; inelastic
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