If the price of chocolate-covered peanuts decreases from $1.15 to $0.90, the quantity demanded does not change, and other things are unchanged, the absolute value of the price elasticity of demand, using the midpoint method, is:

price-elasticity = 0

Explanation:

The formula for mid-point elasticity will be as follows:

Now, as quantity did not change we get:

q1 = q2

thus q1 + q2 = 2q1

and q1 - q2 = 0

As we are getting a zero the end result will be zero which makes complete sense as there was no change in quantity the demand is completely inelastic.

hi there, i would say your answer is:

b. there is a fixed quantity of resources and technology available.

hope that : )