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Question
Zumba classes sell 20 participant spots at a price of $4.50 each. When the instructor raised the prices to $5.50, 10 people attended the class. From the midpoint method, the price elasticity of demand for Zumba is
a. - 0.50.
b. -3.33.
c. -2.50.
d. 0.20.
e. - 0.20.
Answer
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