I.  Refer to the Unit 3 Learning Journal Elasticity Tables document to complete the assignment.  Calculate the price elasticity of demand from point B to point C. Classify the elasticity for point B to point C as elastic, inelastic, or unitary. Provide an explanation for the elasticity for point B to point C.

The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p= -0.02x² -0.2x+6 Compute the elasticity of demand when x = 11. (Round your answer to two decimal places.) 0.22 Determine whether the demand is inelastic, unitary, or elastic when x = 11. elastic inelastic O unitary

Suppose that the demand for sweatshirts at the university bookstore is given by: P = 40 – 0.2Q A) Using the point elasticity method, price elasticity of demand at a price of $8 is  B) Is the demand for sweatshirts elastic or inelastic at the price of $8?

Prove that price elasticity of demand is not the same as the slope of a demand curve.

Suppose the demand curve for a good is P = 10 - 2Q. Drawing the demand line and by calculating the point elasticity of demand, explain for which region of prices the demand will be a) Elastic b) Unit elastic c) Inelastic

If a 10​-percent increase in price decreases the quantity demanded by 36 ​percent, the price elasticity of demand is 11.​(Enter your response as an absolute value rounded to one decimal​ place.) Note: Don't use chat gpt.

In a study of the demand for automobiles in Canada, economists Blomqvist and Hassel distinguished between large and small cars and estimated the price and cross- price elasticities as well as the effects of the price of gasoline on the demands for small and large cars. Their results were as follows: a. C. New large cars New small cars d. Own price elasticity 1.26 2.30 Cross price elasticity 0.86 1.73 Elasticity with respect to gasoline price Note: The cross-price elasticities show that the demand for new small cars is more responsive to changes in the price of new large cars than the demand for new large cars is to changes in the price of new small cars. Do the cross-price elasticities have the expected sign? Briefly explain. b. If the price of new small cars went up by, say, 5 percent, by what percentage would new small car purchases change? {Note: In your answer to this and all of the remaining parts of this question, please indicate whether the change is an increase or a decrease.}…

1) Elasticity of Demand: a) Define and calculate price elasticity of demand using the mid-point method. b) Discuss the determinants of price elasticity of demand and their impact on the degree of elasticity. 21 c) Provide real-world examples illustrating the concept of price elasticity of demand.

Am. 112.

Samsung increases the price for Galaxy smartphones from $450 to $550. As a result the demand for Galaxy smartphones decreases from 21 million to 19 million. Using the midpoint method, calculate the price elasticity of demand for Galaxy smartphones? A) 0.8B) 1  C) 1.2 D) 0.5