ECON 248 Lecture 1: Econ 2020A - 4 Sept 2019
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Consider the following supply schedule:
Price | Quantity Supplied | Elasticity Coefficient |
10 | 50 | |
8 | 40 | |
6 | 30 | |
4 | 20 | |
2 | 10 | |
0 | 0 |
What is the price elasticity of demand between
a. P = $10 and P = $8?
b. P = $8 and P = $6?
c. P = $6 and P = $4?
d. P = $4 and P = $2?
e. P = $2 and P = $0?