Answer to Question #97459 in Microeconomics for Ruth Watetu

Question

The following data refer to quantity of sweets demanded by students in given school.
Price (Kshs) Quantity demanded
1 100

1.10 80

Required:
i) Calculate the price elasticity of demand considering a price increase form Ksh. 1.00 to Ksh. 1.10.
(3.5 marks)
ii) Calculate the price elasticity of demand when price decreases from Ksh. 1.10 to Ksh. 1.00. (3.5 marks)

Answer 1

Dear Ruth Watetu, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order