Suppose the quantity demanded is 2 tickets at a price of $6 per movie ticket and the quantity demanded becomes 6 tickets as the price drops to $4 per movie ticket, what is the point price elasticity of demand of movie tickets?   A.   -6   B.   -2   C.   2   D.   -0.33   E.   none of the above

PRICE (Dollars per unit) 350 225 175 50 0 12 +--- Region Between X and Y Between W and X Between Y and Z Z True False 42 54 QUANTITY (Units) For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elas elastic, or inelastic. 84 W Demand - Elastic Inelastic Unit Elastic True or False: The slope of the demand curve is equal to the value of the price elasticity of demand.

2. If the price of Beer is $2 a bottle, Biff is willing to buy 30 bottles. If the price of Beer is $4 a bottle, Biff is willing to buy 20 bottles. What is Biff's Price Elasticity of Demand? Is his demand elastic or inelastic?

1. If the Greyhound Bus Company expects that a decrease in bus fares on its Manchester-Boston route will raise its total revenues, it must think that the demand for bus travel between Manchester and Boston is: a. elastic b. unit elastic c. inelastic