Activity: Elasticity Cases Provide the requirements for each case. Show your solutions.

Case 1: Your family originally buy 25 kilos of rice every month for P42. Due to the occurrence of typhoons in the country, the price of rice became P53 and your family was forced to buy only 20 kilos per month.

Required: 1. What is the price elasticity of demand in the given situation? (3 pts.) 2. Based on the computed elasticity coefficient, what is the type of elasticity of demand? (2 pts.)

Case 2: At the price of P30, you can usually buy 2 bar soap for laundry. When its price went down to P25, you can now buy 5 bar soaps.

Required: 1. Compute for the elasticity coefficient of demand. (3 pts.) 2. Identify the type of elasticity of demand. (2 pts.)

Case 3: When the price decreases from P8 per unit to P4 per unit, the quantity sold increases from 20 units to 40 units.

Required: 1. What is the price elasticity of demand in the given situation? (3 pts.) 2. Based on the computed elasticity coefficient, what is the type of elasticity of demand? (2 pts.)