A change in price of $10 from initial price of $15 leads to a change in quantity demanded of 100 from the initial quantity of 60.  Find the demand elasticity for this commodity.

A 30 %fall in the price of salt leads to 45 %rise in its demand. Calculate the price elasticity of demand. Comment on the commodity.

Jim saw a decrease in the quantity demanded for his firm’s product from 8000 to 4000 units a week when he raised the price of the product from $200 to $250. What is Jim’s own price elasticity of demand?

The quantity demanded of a commodity at price 8 per unit is 600 units. Its price falls by 25% and quantity demanded rises by 300 units. Calculate elasticity of demand.

The quantity demanded of a commodity at price 8 per unit is 600 units. Its price falls by 25% and quantity demanded rises by 120 units. Calculate elasticity of demand.

Discuss price elasticity of demand and how it is calculated.

If the price elasticity of demand for a good is 4, then a 12 percent decrease in price results in a 0.33 percent increase in the quantity demanded. 3 percent increase in the quantity demanded. 30 percent increase in the quantity demanded. 48 percent increase in the quantity demanded.

The price of Samsung mobile phones rises from £175 to £125. This leads to an increase in the quantity demanded of Nokia mobile phones from 8375 per week to 8750. What is the cross price elasticity of demand for the mobile phones? What does this this suggest about the relationship between the two products?

When the price of a good is lowered from £350 to £200 the quantity demanded increasesfrom 600 to 750 units. Calculate elasticity of demand.

A rise in the price of a muffin from $2 to $3 results in a fall in the quantity demanded of muffins from 200 million to 160 million a day. Moreover, at today's price of a donut of $1.50, the quantity demanded of donuts increases from 70 million to 100 million a day.  Calculate the price elasticity of demand for muffins (show calculations) Is the demand for muffins elastic or inelastic? Calculate the cross elasticity of demand for donuts with respect to the price of a muffin. (show calculations) Based on the above calculation how would you characterize the relationship between muffins and donuts? Why would the business owner want to know this? Only typed solution