Using the midpoint method, if the price of an airline ticket from Orlando to Pittsburgh falls from $275 to $238, the percentage change in price is
A) 1442 percent.
B) 14.42 percent.
C) 15.54 percent.
D) 13.45 percent.
E) 68.00 percent.
B
Economics
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"In the past five years the average price of our Chevrolets has risen about 6 percent a year, and each year we have sold 10 percent more cars than the previous year." How can this car dealer sell more cars as the price of the cars increases?
What will be an ideal response?
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A vertical demand curve is
A) completely inelastic. B) infinitely elastic. C) highly (but not infinitely) elastic. D) highly (but not completely) inelastic.
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