Following table shows the demand for billss bakery apple, Ask an Expert

Economics

Following table shows the demand for Bill's's Bakery apple pies:

Price ($) Quantity Sold

$9 1,000

$10 850

$11 780

1) Calculate the midpoint price elasticity of demand between $9 and $10. Is the demand in this range elastic or inelastic?

2) Calculate the midpoint price elasticity of demand between $10 and $11. Is the demand in this range elastic or inelastic?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91368340

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