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Answer to Question #80702 in Macroeconomics for Makhense
Question #80702
3.6 You are given the following information about the demand for fresh tomatoes.
Price per kg Quantity demanded (kg)
R30 1 000
R32 850
Using the midpoint method calculate the price elasticity of demand (using 2 decimal
places) for the R30 to R32 price range. The price elasticity of demand for tomatoes is
[1] 0,26
[2] 1,00
[3] 2,25
[4] 2,51
Price per kg Quantity demanded (kg)
R30 1 000
R32 850
Using the midpoint method calculate the price elasticity of demand (using 2 decimal
places) for the R30 to R32 price range. The price elasticity of demand for tomatoes is
[1] 0,26
[2] 1,00
[3] 2,25
[4] 2,51
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