When price rises from $10 to $15, the quantity demanded decreases from 100 to 70. Calculate...

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When price rises from $10 to $15, the quantity demanded decreases from 100 to 70. Calculate the price elasticity of demand us

Suppose the demand for roses increases from 500 to 600 stems when income rises from $10,000 to $20,000. Calculate the income

business economics

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Answer 1

Answer #1

O % change i p P is-10100 / 15+101 4000 ino % sui o - 70-100 1 100 t701 - 35.3% Ed = % P. & in im a P = 35.3%.. 4001..

$Б /, а CS = soъ – soo (6) ( воъ +soo \ = 18• 1 8°/ от V. Дслаа имт: 20, объ - Toyoът (20) объt to ooo 1 - С. 67$ ∆=Change

Em=%∆ in Q/%∆ in I

Em=18.18/66.67=0.27

Em=Income elasticity

I=Income

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Answer 2

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