2015201820182018CommodityPriceQD (in kg.)Price QD (in kg.)Beef189.341.30225.30.88CabbageCarrots59.582.0772.011.1868.340.8079.860.70Chayote28.882.7735.480.91Chicken137.5014.51152.2913.16Eggplant43.283.4856.022.75Garlic205.881.56196.831.61MongoOnion87.070.8085.760.8169.532.7596.12.06|РарayaPineapplePorkRice Premium|Shrimp, Suaje 312.77TilapiaTomato36.681.1942.831.0442.061.0151.140.17174.8513.63192.3612.5145.8798.4648.8996.120.89382.60.50106.367.47115.916.9144.33.5750.683.21The coefficient for price elasticity of demandfor beef between 2015 and 2018 isRound-off vour final answer to two decimals.

Price elasticity of demand is the ratio of percentage change in demand of a commodity and percentage…

2015 2018 2018 2018 Commodity Price QD (in kg.) Price QD (in kg.) Beef Cabbage Carrots Chayote Chicken Eggplant 189.34 1.30 225.3 0.88 59.58 2.07 72.01 1.18 68.34 0.80 79.86 0.70 28.88 2.77 35.48 0.91 137.50 14.51 152.29 13.16 43.28 3.48 56.02 2.75 Garlic 205.88 1.56 196.83 1.61 Mongo 87.07 0.80 85.76 0.81 Onion 69.53 2.75 96.1 2.06 Рарaya Pineapple Pork Rice Premium 36.68 1.19 42.83 1.04 42.06 1.01 51.14 0.17 174.85 13.63 192.36 12.51 45.87 98.46 48.89 96.12 Shrimp, Suaje 312.77 0.89 382.6 0.50 Tilopio 106 36 7.47 115 01

2015 2018 2018 2018 Commodity Price QD (in kg.) Price QD (in kg.) Beef Cabbage Carrots Chayote Chicken Eggplant 189.34 1.30 225.3 0.88 59.58 2.07 72.01 1.18 68.34 0.80 79.86 0.70 28.88 2.77 35.48 0.91 137.50 14.51 152.29 13.16 43.28 3.48 56.02 2.75 Garlic 205.88 1.56 196.83 1.61 Mongo 87.07 0.80 85.76 0.81 Onion 69.53 2.75 96.1 2.06 Рарaya Pineapple Pork Rice Premium 36.68 1.19 42.83 1.04 42.06 1.01 51.14 0.17 174.85 13.63 192.36 12.51 45.87 98.46 48.89 96.12 Shrimp, Suaje 312.77 0.89 382.6 0.50 Tilopio 106 36 7.47 115 01

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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