Question: practice problems.. thank you! (e) Continuing from (d) suppose we decide to increase the price by 1%. What is the new price? What is the

practice problems.. thank you!

(e) Continuing from (d) suppose we decide to increase the price by 1%. What is the new price? What is the corresponding demand at this new price? % change in q (1') Use your answer from {d} and (e) to compute % mange mp' (31 Find an expression for E in terms of p. (Again check lecture video or 2'"d lecture video if you are unsure...) (h) Compute the value of E when p = $30 and p = $20. Are these values close to what you got in (c) and {f}? Hint: The answer should be yes

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