Question Completion Status: QUESTION 5 A local cinema increases its ticket price from $20 to $24. The quantity demanded of tickets sold decreases by 25% per week. What is the price elasticity of demand? Use the percentage change method ( Ed = %40 / %AP ) (Note, you are given the percentage change in Quantity in the question but you need to firstly calculate the percentage change in Price from the numbers given You must put the absolute value in, (In other words, do not put negative sign, even though it is an inverse mathematical relationship here b/w P and Q.) (Also do not type in calculation working , just type in your final answer as a number ) QUESTION 6 2 poin Assume that you are selling something on E-bay (i.e. you are the seller or producer]. Your minimum selling price is $200. You end up selling it for $200. Your producer surplus is therefore: (Note: type in a number but do not put the $ sign because the answer will not be recognised.] Click Save and Submit to save and submit. Click Save All Answers to save all answers