If the price elasticity of demand for used carspriced between $3,000 and $5,000 is 2 1.2 (usingthe mid-point method), what will be the percentchange in quantity demanded when the price of aused car falls from $5,000 to $3,000?

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
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If the price elasticity of demand for used cars
priced between $3,000 and $5,000 is 2 1.2 (using
the mid-point method), what will be the percent
change in quantity demanded when the price of a
used car falls from $5,000 to $3,000?

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