If price of a good increases from $ 120 to $130 then quantity demanded will decrease from 1700 to 1500 using the midpolint formula we can conclude thatOAchange in quantity demanded is 12.5O8 change in quantity demanded is ao change in quantity demanded is 13.30O None of the above

In case of normal goods, demand curve shows the negative relationship between price and quantity.…

If price of a good increases from $ 120 to $130 then quantity demanded will decrease from 1700 to 1500 using the midpolint formula we can conclude that change in quantity demanded is 12.5 O8 change in quantity demanded is 8 change in quantity demanded is 13.3 0O None of the above

If price of a good increases from $ 120 to $130 then quantity demanded will decrease from 1700 to 1500 using the midpolint formula we can conclude that change in quantity demanded is 12.5 O8 change in quantity demanded is 8 change in quantity demanded is 13.3 0O None of the above

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 11RQ: As a general rule, is it safe to assume that a change in the price of a good will always have its...

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If price of a good increases from $ 120 to $130 then quantity demanded will decrease from 1700 to 1500 using the midpolint formula we can conclude that
OA
change in quantity demanded is 12.5
O8 change in quantity demanded is a
o change in quantity demanded is 13.3
0O None of the above

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