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Dear Miss Ela, It is me again, my girlfriend insists on going to the movies with me if I can calculate elasticities properly! As you
Dear Miss Ela, It is me again, my girlfriend insists on going to the movies with me if I can calculate elasticities properly! As you you know she is a student in Dr. Delgado's health econ class (as you know Dr. Delgado is one of the brightest minds at TWU, but that is a topic for another exam). Please help me by estimating elasticity for two price changes: a) price increase from $3 to $12 per hour; and b) price increase from $5 to $15 per hour. Please use both the single point and mid-point elasticity formulas! Price Per Hour of Therapy Demand for Therapy 0 16 1 15 2 14 3 13 4 12 5 11 6 10 7 9 8 8 9 7 10 6 11 5 12 4 13 3 14 2 15 1 16 0
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