Author Question: Interpretation of Price Elasticity of DemandThe table shows the quantity demanded for bouncy balls ... (Read 57 times)

ksmithunr · **on:** Nov 23, 2022

Question 1

If the slope = -9, P=$3.25 and Qd=65, what is the point elasticity of demand? Round your final answer to two decimal places.
◦ -180
◦ -0.01
◦ -0.45
◦ -2.22

Question 2

Interpretation of Price Elasticity of Demand

The table shows the quantity demanded for bouncy balls at various prices.

Point	Price	Quantity Demanded
A	1	1040

B

2

1000

C

3

960

D

4

920

E

5

880

Using the midpoint formula, the price elasticity of demand between A and B is ________. At this point, the demand curve is ________ (elastic/inelastic). Round your final answer to two decimal places.
◦ -0.06, inelastic
◦ -208, elastic
◦ -208, inelastic
◦ -0.06, elastic

Sophia0717 · **Reply #1 on:** Nov 23, 2022

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