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2. For the market demand schedule of the following table: Find the price elasticity of demand for a movement from point A to point C,
2. For the market demand schedule of the following table: Find the price elasticity of demand for a movement from point A to point C, from C to pointA and midway between A and C, and (b) do the same for point F and H. Here is the table 1_ Point A B c D F G H P ($) 7 6 5 4 3 2 1 Q (Kg) 500 750 1250 2000 3250 4750 8000 Start solving the problem from A to C. follow example below: e = Change in Q/ Change in Price x Average Price/Average Quantity = 700/2 x 6/875 = 2.4 (it is elastic) a) solve from C to point A b) C to F c)FtoH
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