What will be the percent change in quantity demanded

Reference no: EM131916135

Problem

If the price elasticity of demand for used cars priced between $3,000 and $5,000 is 2 1.2 (using the mid-point method), what will be the percent change in quantity demanded when the price of a used car falls from $5,000 to $3,000?

Reference no: EM131916135

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