each of the following snerios, categories the price elasticity of demand as either elastic, inelastic or unit elastic.(use mid point method in calculation) a) The price of personal computers falls from $2750 to $2250 and the quantity demanded increases from 40,000 to 60,000 b) Pakistan posts increases the price of stamp for Rs.2 cents to Rs 4,but it's total revenue unchanged
each of the following snerios, categories the price elasticity of demand as either elastic, inelastic or unit elastic.(use mid point method in calculation) a) The price of personal computers falls from $2750 to $2250 and the quantity demanded increases from 40,000 to 60,000 b) Pakistan posts increases the price of stamp for Rs.2 cents to Rs 4,but it's total revenue unchanged
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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n each of the following snerios, categories the
a) The price of personal computers falls from $2750 to $2250 and the quantity demanded increases from 40,000 to 60,000
b) Pakistan posts increases the price of stamp for Rs.2 cents to Rs 4,but it's total revenue unchanged
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