When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 700 . Given this information and using the midpoint method, we know that the demand for eBooks is
a. inelastic.
b. elastic.
c. unit elastic.
d. perfectly inelastic.
b
Economics
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The government provides public education because
A) public education is a public good. B) public education is non-rival and nonexclusive. C) private education is rival and exclusive. D) public education combats the negative externalities of private education. E) public education provides positive externalities.
Economics