Suppose a firm can sell 100 units if the price is $10. If the price doubles, the firm can sell 50 units. What is the demand elasticity (please use the MIDPOINT method)   Question 1 options:   -1   None of the other answers are correct   1   -2

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
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Suppose a firm can sell 100 units if the price is $10. If the price doubles, the firm can sell 50 units. What is the demand elasticity (please use the MIDPOINT method)

 

Question 1 options:

 

-1

 

None of the other answers are correct

 

1

 

-2

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