The table below represents the demand schedule for science fiction books. Demand for Science Fiction Books Price (dollars) 0 1 2 3 4 5 6 7 8 % Quantity (books) Instructions: Use the midpoint method to complete all calculations. Round your answers to two decimal places. If you are entering a negative number include a minus sign. a. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in price? % 11 10 9 8 7 6 5 4 3 b. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in quantity? % c. When going from a price of $1 per book to a price of $2 per book, what is the price elasticity of demand for science fiction books? and demand is price (Click to select) ✓ d. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in price? e. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in quantity? f. When going from a price of $7 per book to a price of $8 per book, what is the price elasticity of demand for science fiction books? , and demand is price (Click to select)
The table below represents the demand schedule for science fiction books. Demand for Science Fiction Books Price (dollars) 0 1 2 3 4 5 6 7 8 % Quantity (books) Instructions: Use the midpoint method to complete all calculations. Round your answers to two decimal places. If you are entering a negative number include a minus sign. a. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in price? % 11 10 9 8 7 6 5 4 3 b. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in quantity? % c. When going from a price of $1 per book to a price of $2 per book, what is the price elasticity of demand for science fiction books? and demand is price (Click to select) ✓ d. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in price? e. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in quantity? f. When going from a price of $7 per book to a price of $8 per book, what is the price elasticity of demand for science fiction books? , and demand is price (Click to select)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please give me correct answer with calculation otherwise i give multiple downvote
Note:-
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Transcribed Image Text:The table below represents the demand schedule for science fiction books.
Demand for Science Fiction Books
Price (dollars)
0
1
2
3
4
5
6
7
8
Quantity (books)
%
11
10
9
8
7
6
%
5
4
Instructions: Use the midpoint method to complete all calculations. Round your answers to two decimal places. If you are entering a
negative number include a minus sign.
a. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in price?
3
b. When going from a price of $1 per book to a price of $2 per book, what is the percentage change in quantity?
c. When going from a price of $1 per book to a price of $2 per book, what is the price elasticity of demand for science fiction books?
and demand is price (Click to select)
d. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in price?
e. When going from a price of $7 per book to a price of $8 per book, what is the percentage change in quantity?
f. When going from a price of $7 per book to a price of $8 per book, what is the price elasticity of demand for science fiction books?
and demand is price (Click to select)
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