How does the price elasticity of demand change if you move along the demand schedule from $10 to $8 to $6 ultimately to $4. What does this tell us?

Q: 1.

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A: Use the below formula to find the elasticity: Es = ∆Q∆P×PQ ∆Q = 200 - 100 = 100∆P = 32 - 16 = $16P =…

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Q: price elasticity of demand

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