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Add a column to the initial table showing the price elasticity of demand at each price level. What is happening to the elasticity (increasing, decreasing,
Add a column to the initial table showing the price elasticity of demand at each price level. What is happening to the elasticity (increasing, decreasing, constant)? as price gets lower? Why?According to the current elasticity of demand in this market equilibrium, which decision would be more profitable to the supplier; to raise the price or to lower it? Why?
Quantity of equipment Demanded | Price | Quantity of equipment supplied |
275 | 0 | 0 |
250 | 100 | 50 |
225 | 150 | 75 |
200 | 200 | 100 |
175 | 250 | 125 |
150 | 300 | 150 |
125 | 350 | 175 |
100 | 400 | 200 |
75 | 450 | 225 |
50 | 500 | 250 |
25 | 550 | 275 |
0 | 600 | 300 |
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