Price (per Ounce) Demanded (Ounces per Show) A $0.50 B 0.45 2 C 0.40 4 0.35 6 E 0.30 9 0.25 12 G 0.20 16 0.15 20 0.10 25 0.05 30 Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places. a. Compute the price elasticity between points A and B and points G and H. A to B = 10.0 * G to H = 1.0 8

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I am trying to see what formula I need to get the correct answers.

Quantity
Demanded
Price (per Ounce)
(Ounces per Show)
A
$0.50
1
0.45
0.40
4
0.35
6.
E
0.30
9
F
0.25
12
G
0.20
16
Н
0.15
20
0.10
25
0.05
30
Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places.
a. Compute the price elasticity between points A and B and points G and H.
A to B =
10.0
G to H =
1.0
Transcribed Image Text:Quantity Demanded Price (per Ounce) (Ounces per Show) A $0.50 1 0.45 0.40 4 0.35 6. E 0.30 9 F 0.25 12 G 0.20 16 Н 0.15 20 0.10 25 0.05 30 Instructions: In part a, round your responses to one decimal place. In part b, round your responses to two decimal places. a. Compute the price elasticity between points A and B and points G and H. A to B = 10.0 G to H = 1.0
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