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When the price of Cosmopolitan magazine decreases from​ $5 to​$3 the quantity

When the price of Cosmopolitan magazine decreases from​ $5 to​$3, the quantity demanded increases from​ 600,000 to 1,000,000 copies each month. At the midpoint between these two​ prices, the price elasticity of demand equals

A. 2.

B. ​1/2.

C. 1/3.

D. 3.

E. 1.

Feb 01 2020 View more View Less

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