Use the following hypothetical demand schedule for movies to do exercises 1-2 Price. /. Quantity 100 /. 5 80 /. 10 60 /. 15 40 /. 20 20 /. 25 10 /. 30 A)determine the price elasticity of demand at each quantity demanded using the arc or midpoint formula. Percentage change in quantity demanded =(Q2-Q1)/Q1 divided by percentage change in price =(P2-P1)/P1. B) redo exercise l a using price changes of $10 rather than $5

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