Business, 02.11.2020 16:30, xxxanitaxxx
Use the letter of your last name to determine over which price range you will calculate the elasticity of demand. A-D ($11-$9) E-J ($9-$7) K-N ($5-$3) O-Z ($3-$1) 1. Elasticity a. Calculate elasticity of demand. Show the formula and how you substituted in the numbers, then do the calculation. Remember to take the absolute value!! I want to see the calculations. It is probably easiest if you show me your work on a separate sheet of paper, take a photo, and put the photo in the drop box. Be sure your name is visible. Price Quantity Demanded $11 5 $9 15 $7 25 $5 35 $3 45 $1 55 b. Is demand elastic or inelastic over the price range
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