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

5. Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Arc Price Elasticity of demand at SkateNation. a) EQp = -0.90 b) Eqp = -1.11 c) EQp = 0.90 d) Eqp = 1.11

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15.  Use the graph to answer the question that follows. What is the price elasticity of demand when price increases from $2 to $4? 0.2 0.5 2 3 5

Suppose that business travelers and tourists have the following demand for airlinetickets from Lahore to Karachi.price Quantity demanded(business travelers) Quantity demanded(tourists)$150 2100 1000200 2000 800250 1900 600300 1800 400As the price of ticket rises from $200 to $300, what is the price elasticity of demand for (i) Business travelers(ii) Tourists(Use the midpoint method in your calculations.)

6. Elasticity and total revenue The following graph shows the daily demand curve for bikes in San Francisco. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph.   *graph 1*   On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bike.   *graph 2*   According to the midpoint method, the price elasticity of demand between points A and B is approximately ___ .   Suppose the price of bikes is currently $30 per bike, shown as point B on the initial graph. Because the demand between points A and B is ___ , a $15-per-bike increase in price will lead to ___ in total revenue per day.   In general, in order for a price decrease to cause a decrease in total revenue, demand must be ____.

Price (dollars per unit) 92 91 90 68 88 D 5 6 7 Quantity (units per day) 2 4 The figure shows a demand curve. Using the midpoint formula, the elasticity of demand moving from point A to point Bequals A) 1.00. B) 0.033. C) 2.00. D) 30

m 18 of 21 > (Figure: The Demand for e-Books) Use Figure: The Demand for e-Books. What is the price elasticity of demand (by the midpoint method) when the price increases from $6 to $8? Figure: The Demand for eBooks Price $10 8 6 8+ 2.33 0.55 0.5 0.67 40 D 50 Quantity

Don't answer by pen paper

5. Suppose that the price elasticity of the demand is 0.76. If we increase the price ofthe the demanded product, how would this affect the revenue? Explain