Refer to the figure below: Use the estimated elasticities to calculate the Rothschild index for each industry. Instruction: Enter your responses rounded to three decimal places. Own Price Elasticity of Market Demand Own Price Elasticity of Demand for Representative Firm's Product Rothschild Industry index Agriculture -1.8 -96.2 Construction -1.0 -5.2 Durable manufacturing -1.4 -3.5 Nondurable manufacturing -1.3 -3.4 Transportation -1.0 -1.9 Communication and utilities -1.2 -1.8 Wholesale trade -1.5 -1.6 Retail trade -1.2 -1.8 Finance -0.1 -5.5 Services -1.2 -26.4
Refer to the figure below: Use the estimated elasticities to calculate the Rothschild index for each industry. Instruction: Enter your responses rounded to three decimal places. Own Price Elasticity of Market Demand Own Price Elasticity of Demand for Representative Firm's Product Rothschild Industry index Agriculture -1.8 -96.2 Construction -1.0 -5.2 Durable manufacturing -1.4 -3.5 Nondurable manufacturing -1.3 -3.4 Transportation -1.0 -1.9 Communication and utilities -1.2 -1.8 Wholesale trade -1.5 -1.6 Retail trade -1.2 -1.8 Finance -0.1 -5.5 Services -1.2 -26.4
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Refer to the figure below:Use the estimated elasticities to calculate the Rothschild index for each industry.
Instruction: Enter your responses rounded to three decimal places for the Rothschild Index column in the table.
Transcribed Image Text:Refer to the figure below:
Use the estimated elasticities to calculate the Rothschild index for each industry.
Instruction: Enter your responses rounded to three decimal places.
Own Price Elasticity of
Market Demand
Own Price Elasticity of Demand for
Representative Firm's Product
Rothschild
Industry
index
Agriculture
-1.8
-96.2
Construction
-1.0
-5.2
Durable manufacturing
-1.4
-3.5
Nondurable manufacturing
-1.3
-3.4
Transportation
-1.0
-1.9
Communication and utilities
-1.2
-1.8
Wholesale trade
-1.5
-1.6
Retail trade
-1.2
-1.8
Finance
-0.1
-5.5
Services
-1.2
-26.4
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