# Suppose that your demand schedule for pizza is as follows: a. Use the midpoint method to calculate your price elasticity of demand as the price of pizza increases from $8 to$10 if (i) your income is $20,000 and (ii) your income is$24,000. b. Calculate your income elasticity of demand as your income increases from $20,000 to$24,000 if (i) the price is $12 and (ii) the price is$16.

### Principles of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305585126

### Principles of Economics (MindTap C...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305585126

#### Solutions

Chapter
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Chapter 5, Problem 7PA
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