Question

Table 20-1 Price Quantity Demanded Unit Per Week

$10.00 25

9.50 30

9.00 35

8.50 40

8.00 45

7.50 50

7.00 55

6.50 60

6.00 65

5.50 70

5.00 75

According to Table 20-1, what is the price elasticity of demand if price falls from $8.00 to $7.50? (Use $8 as the base) a 0.563 b 1.78 c 0. 1 d 1.0

2)Using average values, what is the price elasticity of demand when price rises from $5.50 to $6, according to Table 20-1?

a	1.26
b	0.79
c	.85
d	1.17

3)Using averages, what is the price elasticity of demand when price changes from $9.50 to $10 according to Table 20- 1?

a	0.28
b	3.5
c	3.17
d	0.32

Answer 1