Answer below three question with detail calculation and explaination Make sure Use Midpoint formula: 1 As the price of

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Answer below three question with detail calculation and explaination Make sure Use Midpoint formula: 1 As the price of

Post by answerhappygod »

Answer below three question with detailcalculation and explaination Make sure UseMidpoint formula:
1 As the price of a piece of shrimpincreases from $6 to $8, the quantity demanded decreases from 400to 150.What does price elasticity of demand equal?
2. Suppose a 16 percent rise in the price of gasolinecauses the quantity demanded for gasoline to decrease by 32percent. What does the price elasticity of demand for gasolineequal
3. If a 24% drop in the price of one good causes a 3%increase in the quantity demanded of another good, calculate thecross-price elasticity of demand for the good?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”