the % change in price of spaghetti between prices of $18 and $20 is 10.53. the elasticity of demand between the prices of $18 and $20 is -1.69. So, what is the % change in the quantity of spaghetti when the price changes from $18 to $20?
the % change in price of spaghetti between prices of $18 and $20 is 10.53. the elasticity of demand between the prices of $18 and $20 is -1.69. So, what is the % change in the quantity of spaghetti when the price changes from $18 to $20?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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the % change in price of spaghetti between prices of $18 and $20 is 10.53.
the elasticity of demand between the prices of $18 and $20 is -1.69.
So, what is the % change in the quantity of spaghetti when the price changes from $18 to $20?

Transcribed Image Text:price
30
25
20
15
10
5
0
0
50
Reset to baseline
Print
100
Question 1
BASELINE
- CURRENT
Go to answer
150
Q
CURRENT VALUES
Price of spaghetti
Income
Price of tacos
Price of wine
Spaghetti demand
$20.00
$20,000
$6.00
$20.00
Income
Price of tacos
Price of wine
Spaghetti demand
21.72
BASELINE VALUES
$20,000
$6.00
$20.00
21.72

Transcribed Image Text:price
30
25
20
15
10
5 +
0
0
50
Reset to baseline
Print
100
Question 1
BASELINE
CURRENT
Go to answer
150
Q
CURRENT VALUES
Price of spaghetti
Income
Price of tacos
Price of wine
Spaghetti demand
$18.00
$20,000
$6.00
$20.00
Income
Price of tacos
Price of wine
Spaghetti demand
25.97
BASELINE VALUES
$20,000
$6.00
$20.00
25.97
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