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QUESTION

# If the demand is inelastic and you start at point A, what is the result of a cut in the price from \$30 to \$20?

If the demand is inelastic and you start at point A, what is the result of a cut in the price from \$30 to \$20? A. The value of elasticity we get is the same whether we apply it to price increases or to price decreases. 16. Which of the following would occur when calculating price elasticity between two points on a demand curve if we are not using the midpoint formula? A. The value of elasticity we get is the same whether we apply it to price increases or to price decreases. B. We would get a different value for price increases than for price decreases. C. The values we get are the same if the demand curve is downward sloping. D. The values always coincide with the value of the slope of the demand curve, especially if the demand curve is linear. B. The differences between initial and final prices and quantities. A. The averages of the initial and final quantity and the initial and final price. 17. Which of the following does the midpoint formula use to compute elasticity? A. T