If the price for gasoline changes from $4 to $3 and the quantity of miles driven...

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If the price for gasoline changes from $4 to $3 and the quantity of miles driven...

If the price for gasoline changes from $4 to $3 and the quantity of miles driven changes from 400 to 666 units, what would the elasticity of demand be for gasoline using the midpoint formula. Record your answer as a positive number to two places after the decimal.

business economics

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Answer 1

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Ans. the elasticity of demand for gasoline is 1.75.

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Answer 2

If the price for gasoline changes from $4 to $3 and the quantity of miles driven...

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If the price for gasoline changes from $4 to $3 and the quantity of miles driven...

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If the price for gasoline changes from $4 to $3 and the quantity of miles driven...