Question: Lets practice the midpoint formula. Calculate the elasticity of demand for each of the following goods or services. Good or Beginning Beginning Ending Ending Elasticity

Let€™s practice the midpoint formula. Calculate the elasticity of demand for each of the following goods or services.

Good or Beginning Beginning Ending Ending Elasticity of Quantity Price Quantity Demand 50,000 Price Daily movie ticket sales in Denver $6 S10 40,000 $1.50 Weekly milk sales at Loma Vista Elementary School Weekly round- trip ticket sales, New York to San Francisco Annual student enrollments, Upper Tennessee State $1 1,000 800 $500 10,000 1,000 9,000 S6,00040,000 9,000 39,000

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