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

The price elasticity of good x is 3.96, the percentage change in price is 11.5, what is the percentage change in quantity demanded?   a. -7.54 b. 0.34 c. 2.90 d. 45.54

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When the price of apples is $1.00 cach a local farmer sells 500 apples. When the farmer increases the price of apples to $1.20 she only sells 450 apples. By what percentage did the price of apples inerease? By what percentage did the quantity of apples sold decrease? What is the Price Elasticity of Demand (PED) for apples? If the price of apples had increased by 10%, by what percentage would quantity demanded have fallen?

5. Suppose that the price elasticity of the demand is 0.76. If we increase the price ofthe the demanded product, how would this affect the revenue? Explain

The value of price elasticity of demand varies between __________. a. Zero to infinity b. Infinity to one c. Zero to one d. One to infinity

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When the price is 6 the quantity demanded 2 and when the price 5 then quantity demanded 4, the price elasticity of demand would be,

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 % change in price of spaghetti between prices of $18 and $20 is 10.53. the elasticity of demand between the prices of $18 and $20 is -1.69. So, what is the % change in the quantity of spaghetti when the price changes from $18 to $20?