Danny "dimes" donahue is a neighborhood’s 9-year-old entrepreneur. his most recent venture is selling homemade brownies that he bakes himself. at a price of $1.75 each, he sells 250. at a price of $1.25 each, he sells 300. instructions: use the midpoint method and round your answer to 2 decimal places. do not include a minus sign. a. what is the elasticity of demand

The elasticy of demand is 0.54 so it is inelastic

Explanation:

The midpoint method use the average percentage change in both quantity and price.

The fromula is ((Q2-Q1)/((Q2+Q1)/2))/((P2-P1)/((P2+P1)/2))

Q is quantity and P is price

((300-250)/((300+250)/2))/((1.25-1.75)/((1.25+1.75)/2))=0.54

The demand is inelastic, that means that the porcentage in the increase in quantity is minor than the percentage in the reduction of the price. So total revenues decrease.

this conflict is person vs. society

if you need further explanations, comment below!

hope this ! < 3