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6. Law of Demand 2 Suppose lthat your demand schedule for pia is as follows: Price Quantity of Pizzas Demanded Quantity of Pizzas Demanded (Dollars) (Income = $20,000) (Income = $24,000) 8 4D 50 ll} 32 4-5 12 24 30 14 1'6 20 15 8 12 r Using the midpoint method, your price elasticity of demand as the price of pizzas increases from $8 to $10 is 1.00 V if your income is $20,000 and 0.4? V if your income is $24,000. If the price of a pina is $10, your income elastirity of demand is 1.86 V as your income increases from $20,000 to $24,000. However, if the price ofa pizza is $14, your income elasticity is 0.01r V . [a 1'C'Mstion Em - Notepad 3C File Edi! Format View Help Blank 1: My answer is: 1.83 The other choices are: 2.13, 0.4? A Blank 2: My answer is: 8.4? The other choices are: 1.83, 2.13 Blank 3: My answer is: 1.86 The other choices are: 8.18, 013?, 1.22 ll Blank 4: My answer is: 0.8? The other choices are: 6.19, 1.86, 1.22 Ln 10. Call \"11% Windows {CRLF} UTF-8

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