Need 13

b) Compute the coefficient of elasticity between a price Ul ou allo ol 3 1 usilly the midpoint formula 13/ Company ElastiPad produces tablets competing with the iPad Six months into the release of their new product, elastoPad, they reduced the price from $200 to $100 to test the market and their theory that they could improve revenues by making the change, It was a huge success! At $200 demand for their elastoPad was 20:000 units but with the reduced price of $100 demand topped 60,000 units! At $200 revenue was $4 million, whereas at $100 revenue reached $6 million. Using the above midpoint formula, determine if the price change was elastic or inelastic, Show your work 14. Suppose you observe the following demand curve for a product 200