40 15 35 30 30 45 25 60 20 75 15 90 10 105 120 135 11. Using the schedule above, calculate the elasticity of demand when price changes from $25 to $20. Again, show all of your work. Why are the calculated elasticities different?

40 15 35 30 30 45 25 60 20 75 15 90 10 105 120 135 11. Using the schedule above, calculate the elasticity of demand when price changes from $25 to $20. Again, show all of your work. Why are the calculated elasticities different?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

10. Given the following demand schedule, calculate the price elasticity of demand for a price
change from $40 to $35. Use the midpoint formula and show all work for full credit. .
Price (S)
Quantity Demanded
45
40
15
35
30
30
45
25
60
20
75
15
90
10
105
120
135
11. Using the schedule above, caleulate the elasticity of demand when price changes from
$25 to $20. Again, show all of your work. Why are the calculated elasticities different?
What factors may explain these differences.

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