The figure shows the demand for pens. Calculate the elasticity of demand when the price rises from

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The figure shows the demand for pens.

Calculate the elasticity of demand when the price rises from $4 to $6 a pen. Over what price range is the demand for pens elastic?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:59 AM

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The figure shows the demand for pens. Calculate the elasticity of demand when the price rises from

Question:

C 12 0 6 2 2040 60 80 100 120 rens per day

Step by Step Answer:

The price elasticity of demand is 072 When the price of a pen rises from 4 to 6 the quantity dema...View the full answer

Microeconomics

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