Consider the following demand schedule. Price Quantity Demanded $0 1,000 $3 800 $6 600 $9 400 $12 200 $15 0 Refer to Table 5-3. Using the midpoint method, what is the price elasticity of demand between $12 and $15?

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

In the figure below, what is the point price elasticity of demand when price is $60? 120 P Price ($) 100- 80 60 40 14 20- es Correct! Demand 0 200 400 600 800 1,000 1,200 Quantity O -0.50 -1.60 -2.00 -0.75 -1.00

For the demand schedule shown below, what is the price elasticity of demand? Price Quantity Demanded $74 2,500 $80 1,800

Refer to the following figure. When price is $5 and quantity demanded is 3,000, what is the point elasticity of demand? IP 20 Price (dollars) 15 810 S 0 -1/3 -1 -5 -2/3 1,000 2,000 Quantity 3,000 D 4,000 2

The following table contains a monthly demand and supply schedule for large, single- topping, carry-out pizza Pizza Price  (per pack) Quantity demanded for pizza (per pack) Quantity supplied for pizza (per pack)  Quantity demanded for good Y $21 6000 7900 6000 $19 7000 7200 8000 $17 8000 6500 10000   (A) Calculate the price elasticity Of demand (PED) for good X when price fall from S 19 to $ 17.    (B) Suppose you are the sellers of pizza based on the value of PED obtained In your answer for  Question(A), would you or would you not raise the price of pizza? Why?    (C)What S the cross elasbcity of demand (CED) of Good Y when price of carry-out pizza fall from $19 to S17? How is pizza and the Good Y related?

1. In 2020 due to state deregulations ride sharing company X managed to lower its price which led to higher quantity demanded of their rides (a movement along the demand curve). The accompanying table describes what happened to prices and the quantity demanded of their service. Using the midpoint method, calculate the price elasticity of demand for the rides. 2008 2012 Quantity demanded (rides) 130 million 420 million Average price (per ride) $25 $15

Price (P) В $50 $30 Demand 800 1,200 Quantity (Q) In the figure above, the price elasticity of demand from point A to point B is: Select one: а. 0.67 b. 0.8 С. 1.25 d. 1.0

Price (dollars per pizza) 10 9 The data in the table above give two points on the demand curve for pizza. When the price of a pizza falls from $10 to $9, at the midpoint between these two prices what is the price elasticity of demand? 1. Calculate the Elasticity of Demand 2. Is the item Elastic, Unit Elastic, or Inelastic 3. Would you advise lowering the price? Explain Quantity demanded (pizzas per day) 100 125 Response should have the flowing format. 1. 2. 3.

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