Question: Use the demand schedule in Table CP-1 to answer the following questions. Use the mid-point method in your calculations. a. What is the price elasticity

Use the demand schedule in Table CP-1 to answer the following questions. Use the mid-point method in your calculations.

a. What is the price elasticity of demand for a price change from $4 to $8?

b. What is the price elasticity of demand for a price change from $8 to $16?

c. What is the price elasticity of demand for a price change from $20 to $24?

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