Homework Answers
1. C. Sensitivity
2. D
Q1= 35, Q2= 25
P1= 10, P2= 12
Elasticity = -(25-35)(10+12) / (25+35)(12-10) = 220/120= 1.83
3. B
If value of elasticity is greater than 1 demand is elastic.
4. D
When % change in quantity demanded is less than %change in price, demand is inelastic.
Add Answer to:
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