Using the midpoints formula, what would be price elasticity of demand for a gallbladder operation if the number of operations fell from 6,000 to 4,000 per week after its price increased from $6,000 to $10,000?

In the figure above, using the midpoint method, the price elasticity of demand when the price falls from $7 to $6 is equal to

A) 2.50. B) 1.63. C) 0.40. D) 0.62. E) 1.00.

If the consumption function is defined as C = 7,250 + 0.8Y, what is the autonomous level of consumption expenditure?

A) $5,800 B) $7,250 C) $9,062.50 D) $9,700