My question is, First of all, from the data shown in the table about the demand for graphing calculators, how do I calculate the price elasticity of demand from point A to point B, point C to point D, and point F to point G. Secondly, how do I classify the elasticity at each point as elastic, inelastic or unit elastic. Points P Q A 60 3,000 B 70 2,800 C 80 2,600 D 90 2,400 E 100 2,200 F 110 2,000 G 120 1,800 H 130 1,600

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter20: Elasticity: Demand And Supply
Section: Chapter Questions
Problem 13E: Using the following equation for the demand for a good or service, calculate the price elasticity of...
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My question is,

First of all, from the data shown in the table about the demand for graphing calculators, how do I calculate the price elasticity of demand from point A to point B, point C to point D, and point F to point G. Secondly, how do I classify the elasticity at each point as elastic, inelastic or unit elastic.


Points

P

Q

A

60

3,000

B

70

2,800

C

80

2,600

D

90

2,400

E

100

2,200

F

110

2,000

G

120

1,800

H

130

1,600

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