Elasticities and Their Applications
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Evidence for analysis

Price elasticity: two demand pointsQuantity demandedPrice$20, 100$18, 130PED = ?
EvidenceValue
Price$20 to $18
Quantity demanded100 to 130
MethodMidpoint elasticity

Price falls from $20 to $18 and quantity demanded rises from 100 to 130. Using the midpoint method, PED is closest to:

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