Plz help me 7:11 PM DSign in to edit and save changes to this file.3. Suppose Car company raises its price from 10 S to 30 and Suppose quantity demanded reduce from 80 to40, Calculate Price Elasticity of Demand?4.Suppose that when the price of a burger falls by 15 percent, the quantity of pizza demanded decreases by 5percent, Calculate Cross elasticity of demand?5. Suppose that when the Income falls by 50% percent, the guantity of pizza demanded decreases by20%percent. Calculate Income elasticity of demand?

The Elasticity of demand = % change in the quantity demanded / % Change in the price.

Answered: 3. Suppose Car company raises its price…

3. Suppose Car company raises its price from 10 S to 30 and Suppose quantity demanded reduce from 80 to 40, Calculate Price Elasticity of Demand?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Plz help me

7:11 PM D
Sign in to edit and save changes to this file.
3. Suppose Car company raises its price from 10 S to 30 and Suppose quantity demanded reduce from 80 to
40, Calculate Price Elasticity of Demand?
4.
Suppose that when the price of a burger falls by 15 percent, the quantity of pizza demanded decreases by 5
percent, Calculate Cross elasticity of demand?
5. Suppose that when the Income falls by 50% percent, the guantity of pizza demanded decreases by
20%percent. Calculate Income elasticity of demand?

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