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silverelk380Lv1
11 Dec 2019
suppose that your demand schedule for dvds is as follows
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 ...... as your income increases from $10,000 to $12,000. However, if the price of a DVD is $16, your income elasticity is..........
suppose that your demand schedule for dvds is as follows
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 ...... as your income increases from $10,000 to $12,000. However, if the price of a DVD is $16, your income elasticity is..........
Sonal BahlLv10
1 Feb 2021