I. POINT PRICE PER UNIT Qd Qs A 10 100 20 B 14 90 40 16 50 60 D 22 10 80 Required: 1. Compute for the price elasticity of demand for POINT A to POINT B. Show complete solution, interpret your answer. 2. Compute for the price elasticity of demand for POINT B to POINT D. Show complete solution, interpret your answer.

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
I.
POINT
PRICE PER UNIT
Qd
Qs
A
10
100
20
B
14
90
40
16
50
60
D
22
10
80
Required:
1. Compute for the price elasticity of demand for POINT A to POINT B. Show complete solution,
interpret your answer.
2. Compute for the price elasticity of demand for POINT B to POINT D. Show complete solution,
interpret your answer.
Transcribed Image Text:I. POINT PRICE PER UNIT Qd Qs A 10 100 20 B 14 90 40 16 50 60 D 22 10 80 Required: 1. Compute for the price elasticity of demand for POINT A to POINT B. Show complete solution, interpret your answer. 2. Compute for the price elasticity of demand for POINT B to POINT D. Show complete solution, interpret your answer.
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