Points on Demand Curve Price(Per ounce) Quantity (Ounces per show) D $0.35 6 E $
ID: 1180429 • Letter: P
Question
Points on Demand Curve Price(Per ounce) Quantity (Ounces per show)
D $0.35 6
E $0.30 9
G $0.20 16
H $0.15 20
(a) Compute the price elasticity between point D to point E and G to H.
Instructions: Enter your responses rounded to two decimal places. Do not include a minus sign Use the mid-point formula.
D to E =
G to H =
Explanation / Answer
D to point E = ((9-6)/6)/((0.3-0.35)/0.35) =3.50
G to H =((20-16)/16)/((0.15-0.20)/.20) = 1.00