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A.<br />
0.1<br />
B. 0.5<br />
C. 10<br />
D. 20<br />
Question 11 of<br />
5.0/ 5.0 Points<br />
20<br />
The midpoint formula for elasticity of demand solves the problem of __________ .<br />
A. whether elasticity of demand is really positive or negative<br />
B. whether to use quantity or price in the numerator<br />
C. which price or quantity to use as the initial value of the<br />
variable<br />
D. whether to use quantity demanded or supplied<br />
Question 12 of<br />
5.0/ 5.0 Points<br />
20<br />
Suppose that there are only three consumers of a product. At a price of $6 per unit, the first<br />
consumer would buy 12 units of the product, the second consumer would buy 8 units, and the<br />
third consumer would buy 3 units of the product. If you drew a market demand curve for this<br />
product, the quantity demanded at a price of $6 would be __________ .<br />
A. 23<br />
units<br />
B. 20 units<br />
C. 12 units<br />
D. 11<br />
units
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