conomics Practice problems Calculate and classify elasticity is it elastic, perfectly elastic, inelastic, perfectly inelastic or unit elastic? 1 price of computers falls from $ 2750 to $ 2250 and the quantity demand increases from 40 K to 60 K units 2 cost of stamp increases to 50 cents from 48 cents but expenditure does not change 3. price of matches doubles from 1 cent to 2 cents but quantity demanded does not change 4. an increase in demand for blue jeans causes price to increase from $ 45 to $ 55 and the amount purchased changes from 1 mm to 1.1 mm