NAIMMCQ Problem Set Suppose that over the past year, the price of a laptop computer fell from $2,200 to $1,900 per laptop. Over the same time period, consumer sales increased from 680,000 to 800,000 laptops. Using the midpoint method, the elasticity of demand for laptop computers is about:

Suppose that over the past year, the price of a laptop computer fell from $2,200 to $1,900 per laptop. Over the same time period, consumer sales increased from 680,000 to 800,000 laptops. Using the midpoint method, the elasticity of demand for laptop computers is about:

Problem Set

Suppose that over the past year, the price of a laptop computer fell from $2,200 to $1,900 per laptop. Over the same time period, consumer sales increased from 680,000 to 800,000 laptops. Using the midpoint method, the elasticity of demand for laptop computers is about:

A. 0.77

B. 1.11

C. 0.90

D. 1.29

Answer Key: B

NAIMMCQ

Suppose that over the past year, the price of a laptop computer fell from $2,200 to $1,900 per laptop. Over the same time period, consumer sales increased from 680,000 to 800,000 laptops. Using the midpoint method, the elasticity of demand for laptop computers is about:

Suppose that over the past year, the price of a laptop computer fell from $2,200 to $1,900 per laptop. Over the same time period, consumer sales increased from 680,000 to 800,000 laptops. Using the midpoint method, the elasticity of demand for laptop computers is about:

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