Question: SELF-CHECK QUESTIONS 1. From the data in Table 5.5 about demand for smart phones, calculate the price elasticity of demand from: point B to point

SELF-CHECK QUESTIONS 1. From the data in Table 5.5 about demand for smart phones, calculate the price elasticity of demand from: point B to point C, point D to point E, and point G to point H. Classify the elasticity at each point as elastic, inelastic, or unit elastic.

Points P Q

A 60 3,000

B 70 2,800

C 80 2,600

D 90 2,400

E 100 2,200

F 110 2,000

G 120 1,800

H 130 1,600

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