Question: Given below are data showing the price per unit in $ and consumption in kilograms of a commodity: Obtain the reciprocal model and comment on

Given below are data showing the price per unit in $ and consumption in kilograms of a commodity: Price Quantity Demanded 30 112 48 55 25 120 55 40 40

Obtain the reciprocal model and comment on your results. Also, obtain the price elasticity of demand.

Price Quantity Demanded 30 112 48 55 25 120 55 40 40 75 20 125 35 98 50 45 36 90 45 65 42 4449 70 40 74

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