The table shows information on the conditions of demand for ordinary gummy bears and their sugar-free version. Price ($ per kg) Sugar-free Gummy Bears Demanded (thousands of kg) Regular Gummy Bears Demanded (thousands of kg) $2.20$2.20 181.00181.00 485.00485.00 $2.60$2.60 175.00175.00 379.00379.00 $3$3 157157 273.00273.00 $3.40$3.40 137.00137.00 155.00155.00 As the price of gummy bears rises from $2.60$2.60 to $3$3, what are the price elasticities of demand of sugar-free gummy bears and of ordinary gummy bears? Use the midpoint method and specify answers to one decimal place. Elasticity of demand of sugar-free gummy bears: Elasticity of demand of regular gummy bears:
The table shows information on the conditions of demand for ordinary gummy bears and their sugar-free version. Price ($ per kg) Sugar-free Gummy Bears Demanded (thousands of kg) Regular Gummy Bears Demanded (thousands of kg) $2.20$2.20 181.00181.00 485.00485.00 $2.60$2.60 175.00175.00 379.00379.00 $3$3 157157 273.00273.00 $3.40$3.40 137.00137.00 155.00155.00 As the price of gummy bears rises from $2.60$2.60 to $3$3, what are the price elasticities of demand of sugar-free gummy bears and of ordinary gummy bears? Use the midpoint method and specify answers to one decimal place. Elasticity of demand of sugar-free gummy bears: Elasticity of demand of regular gummy bears:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The table shows information on the conditions of
| Sugar-free Gummy Bears Demanded (thousands of kg) | Regular Gummy Bears Demanded (thousands of kg) | |
|---|---|---|
| $2.20$2.20 | 181.00181.00 | 485.00485.00 |
| $2.60$2.60 | 175.00175.00 | 379.00379.00 |
| $3$3 | 157157 | 273.00273.00 |
| $3.40$3.40 | 137.00137.00 | 155.00155.00 |
As the price of gummy bears rises from $2.60$2.60 to $3$3, what are the
Elasticity of demand of regular gummy bears:
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