Illustrate what whould be appropriate elasticity to compute

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Recently, in smalltown, the price of twinkies fell from $0.80 to $0.70. As a result, the quantity demanded of Ho-Ho's decreased from 120 to 100. Illustrate what whould be the appropriate elasticity to compute? Using the midpoint method, compute this elasticity. What does your answer tell you?

Reference no: EM1348376

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