Using the data shown in the table below about demand, calculate the price elasticity of demand from point B to point C, point D to point E, and point G to point H. Classify the elasticity at each point as elastic, inelastic, or unit elastic. Points Q A 60 3,000 70 2,800 80 2,600 90 2,400 E 100 2,200 F 110 2,000 120 1,800 H. 130 1,600

Using the data shown in the table below about demand, calculate the price elasticity of demand from point B to point C, point D to point E, and point G to point H. Classify the elasticity at each point as elastic, inelastic, or unit elastic. Points Q A 60 3,000 70 2,800 80 2,600 90 2,400 E 100 2,200 F 110 2,000 120 1,800 H. 130 1,600

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Problem Solving (2)
Using the data shown in the table below about demand, calculate
the price elasticity of demand from point B to point C, point D to
point E, and point G to point H. Classify the elasticity at each
point as elastic, inelastic, or unit elastic.
Points
P.
A
60
3,000
70
2,800
C
80
2,600
D
90
2,400
E
100
2,200
F
110
2,000
120
1,800
130
1,600
BSTM2001
CHAPTER (4) SLIDE (8)

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