Back to Assignment Attempts Score / 2 6.Q6 Suppose that your demand schedule for DVDS is as follows: Price Quantity of DVDS Demanded Quantity of DVDS Demanded (Dollars) (Income = $10,000) (Income = $12,000) 8 40 50 10 32 45 12 24 30 14 16 20 16 8 12 Using the midpoint method, your price elasticity of demand as the price of DVDS increases from $8 to $10 is v if your income is $10,000 a if your income is $12,000. If the price of a DVD is $12, your income elasticity of demand is as your income increases from $10,000 to $12,000. However, if the price of a DVD is $16, your income elasticity is Save & Continue Continue without saving
Back to Assignment Attempts Score / 2 6.Q6 Suppose that your demand schedule for DVDS is as follows: Price Quantity of DVDS Demanded Quantity of DVDS Demanded (Dollars) (Income = $10,000) (Income = $12,000) 8 40 50 10 32 45 12 24 30 14 16 20 16 8 12 Using the midpoint method, your price elasticity of demand as the price of DVDS increases from $8 to $10 is v if your income is $10,000 a if your income is $12,000. If the price of a DVD is $12, your income elasticity of demand is as your income increases from $10,000 to $12,000. However, if the price of a DVD is $16, your income elasticity is Save & Continue Continue without saving
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 7PA: Suppose that your demand schedule for pizza is as follows: a. Use the midpoint method to calculate...
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6.Q6
Suppose that your demand schedule for DVDS is as follows:
Price
Quantity of DVDS Demanded
Quantity of DVDS Demanded
(Dollars)
(Income = $10,000)
(Income = $12,000)
8.
40
50
10
32
45
12
24
30
14
16
20
16
8
12
Using the midpoint method, your price elasticity of demand as the price of DVDS increases from $8 to $10 is
if your income is $10,000 and
▼ if your income is $12,000.
If the price of a DVD is $12, your income elasticity of demand is v as your income increases from $10,000 to $12,000. However, if the price of a
DVD is $16, your income elasticity is
Save & Continue
Continue without saving
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