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1. You find the following data on the demand for Compact discs in the city. Price (s) Quantity demanded (I|Quantity demanded
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Answer #1

I= $10,000 (1) Midpoint mathod for PED (Q, -20) PED = Q,= Nenw quonhty Q0z old quanaty Pi Neus piie Po = old price - Po P, +

$12,000 New quantty old quantty P, = New pice old price = 45 Q0= 50 Po Appluy ig for neula pr mid porut PED = (So t45) (8480)

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