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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

image text in transcribed
Price Quantity Price Quantity Income Quantity 9.00 Q1 1.000 Py1 8.00 2.000 Income, $28,000.00 50.00 8.00 2.000 Py2 7.00 3.000 Incomez $30,000.00 52.00 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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