The following graph shows two known points (X and Y) on a demand curve for...
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The following graph shows two known points (X and Y) on a demand curve for tomatoes. ? 10 9 8 7 6 PRICE (Dollars per pound) 4 3 2 Demand 1 0 an an 7 Anon 10 5 PRICE (Dollars per 5 Demand 0 100 10 20 30 40 50 50 70 30 90 QUANTITY (Thousands of pounds of tomatoes) which suggests + According to the midpoint method, the price elasticity of demand for tomatoes between point X and point Y is approximately that the demand for tomatoes is between points X and Y
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