Question #73205
given the following information complete the table. use the mid point formula to calculate elasticity .
price quantity demand ED characteristics TR
11 10
10 20
9 30
8 40
7 50
6 60
5 70
4 80
price quantity demand ED characteristics TR
11 10
10 20
9 30
8 40
7 50
6 60
5 70
4 80
Expert's answer
Price quantity TR midpoint elasticity
11 10 110
10 20 200 -7
9 30 270 -3.8
8 40 320 -2.4
7 50 350 -1.7
6 60 360 -1.2
5 70 350 -0.85
4 80 320 -0.6
11 10 110
10 20 200 -7
9 30 270 -3.8
8 40 320 -2.4
7 50 350 -1.7
6 60 360 -1.2
5 70 350 -0.85
4 80 320 -0.6
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#339914 on Dec 2023
#339914 on Dec 2023