Refer to the graph below to answer the questions. Use the mid-point formula. Please show your working calculation. $4 10 8 E 4-- F D 1 2 3 4 5 Number of hamburgers If the price of a hamburger increases from RM8 to RM10, the price elasticity of demand equals а. b. If the price of a hamburger increases from RM6 to RM8, the price elasticity of demand equals , If the price of a hamburger decreases from RM6 to RM4, the price elasticity of demand equals с. Price 2.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Refer to the graph below to answer the questions. Use the mid-point formula.
Please show your working calculation.
$4
10
A
8
1 2 3 4 5
Number of hamburgers
If the price of a hamburger increases from RM8 to RM10, the price elasticity of demand
equals
а.
b.
If the price of a hamburger increases from RM6 to RM8, the price elasticity of demand
equals
If the price of a hamburger decreases from RM6 to RM4, the price elasticity of demand
equals
C.
4.
2.
Price
Transcribed Image Text:Refer to the graph below to answer the questions. Use the mid-point formula. Please show your working calculation. $4 10 A 8 1 2 3 4 5 Number of hamburgers If the price of a hamburger increases from RM8 to RM10, the price elasticity of demand equals а. b. If the price of a hamburger increases from RM6 to RM8, the price elasticity of demand equals If the price of a hamburger decreases from RM6 to RM4, the price elasticity of demand equals C. 4. 2. Price
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