Question: Name ____________ [purse E 1i'ear tenure Time Date Performed MMJ Elm 1. Compute for the price elasticity of demand using the elasticity formusa. Supplement you

Name ____________ [purse E 1i'ear tenure Time Date Performed MMJ Elm

Name ____________ [purse E 1i'ear tenure Time Date Performed MMJ Elm 1. Compute for the price elasticity of demand using the elasticity formusa. Supplement you answer with the 2. The following hypothetical table ls John's demand for pandesal from Dec EDIE to January 2013' given his monthly Income. a. What happened to John's income after December? it. What happened to the quantity of pandesal bought by John? c. What economic concept is being shown by the relationship between John's Income and his demand for pandesal? 3. if goods it and it have a cross elaritieit'ir of -3i and goods it and 5 have a cross elastioit'ir of 5. then. what relationship exists between goods it and it? between it and 5? a. Number the following demand dines from 5. Number the following supply ones from lowest highest to lowest elasticity. to highest elasticity. |\\\\|

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