Question: Find the answer with explain how you got it 6. When the price of CD increased from $20 to $22, the quantity of CDs demanded

Find the answer with explain how you got it

6. When the price of CD increased from $20 to $22, the quantity of CDs demanded decreased from 100 to 87. What is the price elasticity of demand for CDs?

7. Yesterday, the price of envelopes was $3 a box, and Julie was willing to buy 10 boxes. Today, the price has gone up to $3.75 a box, and Julie is now willing to buy 8 boxes. Is Julie's demand for envelopes elastic or inelastic? What is Julie's elasticity of demand?

8. Katherine advertises to sell cookies for $4 a dozen. She sells 50 dozen, and decides that she can charge more. She raises the price to $6 a dozen and sells 40 dozen. What is the elasticity of demand?

9: P1 = $12, P2 = $6, Q1 = 40, Q2 = 50, What is PED?

10: If the price of petrol increased from 130cents to 140cents and demand fell from 10,000 units to 9,900. What is PED?

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