Question: Use the Demand Schedule below to answer question that follows. Price Quantity $250 10 $200 30 $150 70 110 150 190 $100 $50 SO

Use the Demand Schedule below to answer question that follows. Price Quantity

Use the Demand Schedule below to answer question that follows. Price Quantity $250 10 $200 30 $150 70 110 150 190 $100 $50 SO If the price falls from $150 to $50, what is the absolute value of the price elasticity of demand? (It's OK to leave as simplified fraction or a decimal.) type your answer. Is it elastic, inelastic, or unit elastic? type your answer... 30

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