Is this multiple choice...if so can you edit your question and put the answer options
Answer:
The demand for candy bars is inelastic
Explanation:
The midpoint rule calculate the price elasticity of demand as percentage change in quantity divided by the percentage change in price:
<u>% change in quantity </u>
![\frac{Q_2-Q_1}{ \frac{Q_2 + Q_1}{2} } \times 100](https://tex.z-dn.net/?f=%20%5Cfrac%7BQ_2-Q_1%7D%7B%20%5Cfrac%7BQ_2%20%2B%20Q_1%7D%7B2%7D%20%7D%20%20%5Ctimes%20100)
The quantity demanded increased from 500 to 600. We have
![Q_1 = 500 \: and \: Q_2 = 600](https://tex.z-dn.net/?f=Q_1%20%3D%20500%20%5C%3A%20and%20%5C%3A%20Q_2%20%3D%20600)
![\implies \frac{600 - 500}{ \frac{600 + 500}{2} } \times 100 \\ = \frac{100}{ \frac{1100}{2} } \\ = \frac{100}{550} \\ = \frac{2}{11}](https://tex.z-dn.net/?f=%20%5Cimplies%20%5Cfrac%7B600%20-%20500%7D%7B%20%5Cfrac%7B600%20%2B%20500%7D%7B2%7D%20%7D%20%20%5Ctimes%20100%20%5C%5C%20%20%3D%20%20%5Cfrac%7B100%7D%7B%20%5Cfrac%7B1100%7D%7B2%7D%20%7D%20%5C%5C%20%20%3D%20%20%5Cfrac%7B100%7D%7B550%7D%20%5C%5C%20%20%3D%20%20%5Cfrac%7B2%7D%7B11%7D%20)
<u>% change in price</u>
![\frac{P_2-P_1}{ \frac{P_2 + P_1}{2} } \times 100](https://tex.z-dn.net/?f=%20%5Cfrac%7BP_2-P_1%7D%7B%20%5Cfrac%7BP_2%20%2B%20P_1%7D%7B2%7D%20%7D%20%20%5Ctimes%20100)
The price changed from 1 dollar to 0.8 dollars.
![\frac{0.8 - 1}{ \frac{0.8 + 1}{2} } = - \frac{2}{9}](https://tex.z-dn.net/?f=%20%5Cfrac%7B0.8%20-%201%7D%7B%20%5Cfrac%7B0.8%20%2B%201%7D%7B2%7D%20%7D%20%3D%20%20-%20%20%5Cfrac%7B2%7D%7B9%7D%20%20)
Price elasticity if demand is
![\frac{ \frac{2}{11} \%}{ - \frac{2}{9} \%} = - \frac{9}{11} = - 0.82](https://tex.z-dn.net/?f=%20%5Cfrac%7B%20%5Cfrac%7B2%7D%7B11%7D%20%5C%25%7D%7B%20%20-%20%5Cfrac%7B2%7D%7B9%7D%20%5C%25%7D%20%20%3D%20%20-%20%20%5Cfrac%7B9%7D%7B11%7D%20%20%3D%20%20-%200.82)
The negative sign tells us that there is an inverse relationship between price and quantity demanded.
Since 0.82 is less than 1, the demand for candy bars is inelastic
the answer is b im not too sure tho
List your income and your assets and find the total. Iam not really sure that's the answer, but it sounds right.