The price elasticity of demand for long-distance call

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During a specific period of time, the average price of long-distance calls fell from $0.25 per minute to $0.15. As a result of the drop in price, average long-distance calling per person per month increased from 300 minutes to 400 minutes. Using the midpoint method, calculate (show your work) the price elasticity of demand for long-distance call.

Reference no: EM131089607

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The price elasticity of demand for long-distance call : During a specific period of time, the average price of long-distance calls fell from $0.25 per minute to $0.15. As a result of the drop in price, average long-distance calling per person per month increased from 300 minutes to 400 minutes. Using the ..

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