Graph the supply and demand curves and use the midpoint (averages) formula to calculate the respective price elasticities of supply and demand over the price range given.  Then determine over what range of prices supply and demand are elastic, unit elastic, or inelastic.   Es QS Price QD Ed   2400 14 0     2200 12 500     1900 10 1000     1500 8 1500     1000 6 2000     500 4 2500

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