The table below provides price and output information for Angela’s weekly demand curve for cheeseburgers. Use the information in the table to answer the questions below, and give all answers to two decimals.   Price (per cheeseburger) Number of Cheeseburgers Demanded (per week) $14  1  $10  3    a. Calculate the price elasticity of demand if the price falls from $14 to $10. Do not use the midpoint formula.      b. Calculate the price elasticity of demand if the price increases from $10 to $14. Do not use the midpoint formula.             c. Use the midpoint method to calculate the price elasticity of demand

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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The table below provides price and output information for Angela’s weekly demand curve for cheeseburgers. Use the information in the table to answer the questions below, and give all answers to two decimals.
 

Price
(per cheeseburger)
Number of Cheeseburgers Demanded
(per week)
$14 
$10 
 
a. Calculate the price elasticity of demand if the price falls from $14 to $10. Do not use the midpoint formula.     



b. Calculate the price elasticity of demand if the price increases from $10 to $14. Do not use the midpoint formula.            


c. Use the midpoint method to calculate the price elasticity of demand.   

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