2. Suppose that a market's demand curve is given by: Price Quantity $15 6 $14 8 $13 10 $12 12 $11 14 $10 16 $9 18 $8 20 $7 22 $6 24 $5 26 $4 28 Suppose that the price start at $6, and then drops by $2. What is the elasticity of demand over the range of this change? Ans:

2. Suppose that a market's demand curve is given by: Price Quantity $15 6 $14 8 $13 10 $12 12 $11 14 $10 16 $9 18 $8 20 $7 22 $6 24 $5 26 $4 28 Suppose that the price start at $6, and then drops by $2. What is the elasticity of demand over the range of this change? Ans:

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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Question

2. Suppose that a market's demand curve is given by:
Price
Quantity
$15
6
$14
8
$13
10
$12
12
$11
14
$10
16
$9
18
$8
20
$7
22
$6
24
$5
26
$4
28
Suppose that the price start at $6, and then drops by $2. What is the elasticity of demand
over the range of this change?
Ans:

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