Question: 3- Calculate the elasticity using the TRADITIONAL method if the quantity demanded was 5 units when the price was 1 $ and it became 10

3- Calculate the elasticity using the TRADITIONAL method if the quantity demanded was 5 units when the price was 1 $ and it became 10 units when the price became 0.25 $, discuss your results? ...5 marks 4-State the differences between the following elasticity in the graph below....... ...5 marks Perfectly Inelastic for Soybeans Perfectly Elastic Demand Curve Demand Curve for insulin 60 Price ( per tonnes) Price (5 per bonnes) 1000 Quantity Demanded (tonnes) Quantity Demanded litres) Perfectly elastic means. Perfectly inelastic means

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