If 45 units are sold at the price of $75, and 30 units are sold at the price of $100, what is the price elasticity of demand? Use the mid-point formula, and show all your workings.

   

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Williamson Corporation's Board authorized 85,000 shares of common stock with $6 par value. During the first year, Williamson: a. Sold 59,000 shares of common stock for cash at $45 per share. b. Repurchased 4,000 shares at $47 per share. E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 Sold 59,000 shares of common stock for cash at $45 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal > Williamson Corporation's Board authorized 85,000 shares of common stock with $6 par value. During the first year, Williamson: a. Sold 59,000 shares of common stock for cash at $45 per share. b. Repurchased 4,000 shares at $47 per share. E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 Sold 59,000 shares of common stock for cash at $45 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal >

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To calculate the price elasticity of demand using the midpoint formula we need to follow the... View the full answer