Q1)At a price of $100, Beachside canoe rentals rented 11 canoes. When it increased its rental price to $125, 9 canoes were rented. Calculate the absolute value of the price elasticity of demand for canoe rentals, using the mid point formula. Q2) A demand curve that is horizontal means that the commodity -- Q3) With the increased usage of cell-phone services, what has happened to the price elasticity of demand for land-line telephone services?
    • 10 years ago
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