D 0 Q 0 4 8 12 16 20 24 Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the own price elasticity of der a) 2/3 b) - 2/3 c) 3/17 d) 17/3 e) 2/11 f) - 2/11 g) 2/17 h). 2/17

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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QUESTION 14
24
20
16
12
8
4
P
ܠܓܠܢ
0
N
4 8 12 16 20 24
Q
14. Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the own price elasticity of demand for the price changing from $2 to $4
a) 2/3
b) - 2/3
c) 3/17
d) 17/3
e) 2/11
f) - 2/11
g) 2/17
h) - 2/17
Transcribed Image Text:QUESTION 14 24 20 16 12 8 4 P ܠܓܠܢ 0 N 4 8 12 16 20 24 Q 14. Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the own price elasticity of demand for the price changing from $2 to $4 a) 2/3 b) - 2/3 c) 3/17 d) 17/3 e) 2/11 f) - 2/11 g) 2/17 h) - 2/17
QUESTION 13
P
24
20
16
12
8
4
0
D
a) 2/3
b) - 2/3
c) 3/17
d) 17/3
e) 2/11
f) - 2/11
g) 2/17
h) - 2/17
Q
48 12 16 20 24
13. Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the percentage change in Q associated with the price changing from $2 to
$4.
Transcribed Image Text:QUESTION 13 P 24 20 16 12 8 4 0 D a) 2/3 b) - 2/3 c) 3/17 d) 17/3 e) 2/11 f) - 2/11 g) 2/17 h) - 2/17 Q 48 12 16 20 24 13. Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the percentage change in Q associated with the price changing from $2 to $4.
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