STPM Ekonomi 944 Practice Questions - Sijil Tinggi Persekolahan Malaysia (STPM) - Ekonomi (944) Exam

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If the price of a good falls from RM10 to RM8 and quantity demanded rises from 100 to 140 units, the arc (midpoint) price elasticity of demand is closest to:

1.50 (elastic) 0.67 (inelastic) 2.00 (elastic) 0.40 (inelastic)

Correct Answer:

1.50 (elastic)

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