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AP® Microeconomics

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Moderate

Elasticity of Demand: Calculation

APMICR-EHHPE1

Using the midpoint formula, what is the coefficient for the elasticity of demand if the quantity demanded increases from 15 to 21 when the price decreases from \$4 to \$2?

A

2

B

0.5

C

0.8

D

1.25

E

1