1. For the market demand schedule in table below, find the price elasticity of demandfor a movement from (a) point B to point D and (b) point D to G.PointABCDFGHPx($)431Qx20,00040,00060,00080,000100,000| 120,000 3. Using the table from Problem 1, compute the following:a. Arc Ed (for A and B)b. Point Ed (for A)c. Arc Ed (for G and H)d. Point Ed (for G)

For movement from one point to other we use arch elasticity

1. For the market demand schedule in table below, find the price elasticity of demand for a movement from (a) point B to point D and (b) point D to G. Point A C D F G H Px($) 6. 4 3 1 Qx 20,000 40,000 60,000 80,000 100,000 120,000

1. For the market demand schedule in table below, find the price elasticity of demand for a movement from (a) point B to point D and (b) point D to G. Point A C D F G H Px($) 6. 4 3 1 Qx 20,000 40,000 60,000 80,000 100,000 120,000

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

1. For the market demand schedule in table below, find the price elasticity of demand
for a movement from (a) point B to point D and (b) point D to G.
Point
A
B
C
D
F
G
H
Px($)
4
3
1
Qx
20,000
40,000
60,000
80,000
100,000| 120,000

3. Using the table from Problem 1, compute the following:
a. Arc Ed (for A and B)
b. Point Ed (for A)
c. Arc Ed (for G and H)
d. Point Ed (for G)

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