Monopolistic competition differs from oligopoly in that in monopolistic competition firms act independently while in oligopoly firms act interdependently

The marginal propensity to consume is the proportion of each new dollar's worth of income that is spent

Indicate whether the statement is true or false

A firm can sell 10 units if the price is $100 and can sell 8 units if the price is $125. Using the midpoint method, what is the price elasticity of demand?

A) 0.75 B) 1.00 C) 1.25 D) 0.50 E) 0.0