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Compute the price elasticities from the following data, and fill in Total Expenditure (TE) & the change in TE. [NOTE: #DIV/0! Is right when dividing
Compute the price elasticities from the following data, | ||||||
and fill in Total Expenditure (TE) & the change in TE. | ||||||
[NOTE: #DIV/0! Is right when dividing by 0.] | ||||||
The demand curve in a market is | P = 200 - 2Q. | Q=P-200/2 | ||||
price | change in | |||||
P | Q | elasticity | TE | TE | ||
200 | 300 | NONE | NONE | |||
160 | 260 | |||||
120 | 220 | |||||
80 | 180 | |||||
40 | 140 | |||||
0 | 100 | |||||
0.5 | 0.2 | 0.3 | ||||
2. Income & Cross-Price Elasticity |
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