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Using the mipoint method to calculate elasticity, if an increase in the price of pencils from 10 cents to 20 cents reduces the quantity demanded from 1,000 pencils to 500 pencils, then the demand for pencils is unit price elastic.



A. True
B. False

This question is part of Microeconomics [Ch.
Asked by Emy_, Last updated: Dec 05, 2017

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Emy_

Emy_

Answered on Sep 22, 2017

True
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