PRICE 1 0.94 0.94 1.02 1.02 1.23 1.31 1.31 1.15 1.15 0.92 0.88 1.04 1.04 1.13 0.87 0.87 1.02 1.04 1.04 1.04 1.17 1.17 1.17 1.15 1.1 1.15 1.08 0.98 0.87 0.87 0.87 1.1 1.23 1.15 1.02 1.1 1.1 0.83 0.77 0.77 0.83 0.83 0,77 AMOUNT 12 9 34 6 64 55 38 43 33 40 48 59 47 139 76 24 108 116 76 122 98 43 93 59 132 143 121 119 89 67 187 95 178 138 181 36 169 229 252 164 90 211 160 140

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

calculate the elasticity on each of the days considered from the data and draw conclusions regarding each product: type of product and average elasticity

PRICE
1
0.94
0.94
1.02
1.02
1.23
1.31
1.31
1.15
1.15
0.92
0.88
1.04
1.04
1.13
0.87
0.87
1.02
1.04
1.04
1.04
1.17
1.17
1.17
1.15
1.1
1.15
1.08
0.98
0.87
0.87
0.87
1.1
1.23
1.15
1.02
1.1
1.1
0.83
0.77
0.77
0.83
0.83
0.77
AMOUNT
ಕಕ – ಆ ಕ ಪ ಟ ಕ ಕ ತ ಕ ತ ಕ ( 3 8 ತ ತ ಪ ಸ 8 8 ಜ ಕ ಸಕ ಕ ಕ ( 28 6 8 8 5 # ೫ ೪ ೪ - ನ
43
59
139
108
116
122
132
143
119
187
178
138
181
169
229
252
164
211
160
140
Transcribed Image Text:PRICE 1 0.94 0.94 1.02 1.02 1.23 1.31 1.31 1.15 1.15 0.92 0.88 1.04 1.04 1.13 0.87 0.87 1.02 1.04 1.04 1.04 1.17 1.17 1.17 1.15 1.1 1.15 1.08 0.98 0.87 0.87 0.87 1.1 1.23 1.15 1.02 1.1 1.1 0.83 0.77 0.77 0.83 0.83 0.77 AMOUNT ಕಕ – ಆ ಕ ಪ ಟ ಕ ಕ ತ ಕ ತ ಕ ( 3 8 ತ ತ ಪ ಸ 8 8 ಜ ಕ ಸಕ ಕ ಕ ( 28 6 8 8 5 # ೫ ೪ ೪ - ನ 43 59 139 108 116 122 132 143 119 187 178 138 181 169 229 252 164 211 160 140
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Advertising
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education