If 50 units of.a good are sold at a price of $20 and 80 units are sold at a price of $15, what is the absolute value of the price elasticity of demand? Use the midpoint formula.

When the price of a good is $6, the quantity demanded is 50 units per month; when the price is $8, the quantity demanded is 30 units per month. Find the arc price elasticity of demand for this good and comment on it.

If the quantity demanded of textbooks decreases by 40% when the price of a textbook rises by 100% what is the price elasticity of demand for textbooks? 

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 increase by 30%, the consumption of the good decreased by 10%, what is the price elastic of demand? Will the total revenue of selling the good increase or decrease when the price of good A increase? When the price of A increase by 10%, the consumption of the good B increases by 20%, what is the cross-price elasticity of demand of B with the change of price of A?

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

When the price of chicken rises 31%, the quantity demanded of chicken falls 21%. What is the price elasticity of demand?

What is the formula for the price elasticity of demand? The percentage change in the A) quantity demanded divided by the percentage change in the price of a substitute or complement. B) quantity demanded divided by the percentage change in price. C) quantity demanded divided by the percentage change in income. D) quantity supplied divided by the percentage change in price.

What are the determinants that affect the price elasticity of demand?

Explain why for some goods, the long-run price elasticity of demand is greater than the short-run price elasticity of demand. Give examples of goods that may display this characteristic.