Answered: How do I get the price elasticity…

How do I get the price elasticity number?? and how do I graph it? P Q Price Total Elasticity Revenue $9.00 1 - 9 $8.00 2 16 $7.00 3 21 $6.00 4 24 $5.00 5 25 $4.00 6 24 $3.00 7 21 $2.00 8 16

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 22RQ: What is the formula for line cross-price elasticity of demand?

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Question

How do I get the price elasticity number?? and how do I graph it?

P	Q	Price	Total
		Elasticity	Revenue
$9.00	1	-	9
$8.00	2		16
$7.00	3		21
$6.00	4		24
$5.00	5		25
$4.00	6		24
$3.00	7		21
$2.00	8		16

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