please help solve this
Using the downloaded worksheet where it indicates (Use this material to help solve Question #25 through #27) to help you solve for Elasticity based problem described below. Problem to Solve : Assume that you need to determine if your rm should raise it's price. Use the formula for Elasticity of Demand using the Midpoint (average) to solve this problem. Observe the inlormation in Table 1 and the illustration in Graph 1 below. Consider a movement from X to Y in the Graph 1. Determine the % change [or Price and Quantity and use those changes to determine the Elasticity of Demand. What is the \"la change [or Price '.7 What is the % change lor Quantity Demand 7 What is the Elasticity or Demand (ED) = 7 Use the worksheet to solve this problem then select your answer from one the tour choice below. domain in: mamir) in v3 n n smd moo in\" 500 The % change for Price = 35% The % change for Quantity = 46% The Elasticity of Demand (ED) = 1.31 The % change [or Price = .43% The % change [or Quantity = 5% The Elasticity of Demand (ED) = 1.16 The % change for Price = .33 The % change for Quantity = .5 The Elasticity of Demand (E0) = 1.51 The % change [or Price = 151% The % change for Quantity = 33% The Elasticity of Demand (E5) = .54 After all the changes made in question #25, the Total Revenue would beUse the downloaded worksheet to help you solve question #24 through #27 of Elasticity based on the problem below. Problem to Solve : Assume that you need to determine if your firm should raise it's price. Use the formula for Elasticity of Demand using the Midpoint (average) to solve this problem. Observe the information in Table 1 and the illustration in Graph 1 below. Consider a movement from Z to S in the Graph 1. Determine the % change for Price and Quantity and use those changes to determine the Elasticity of Demand. What is the % change for Price _? What is the % change for Quantity Demand_ What is the Elasticity of Demand (ED) = Use the worksheet to solve this problem then select your answer from one the four choice below. PRICE Demand P4 P3 P2 P1 QUANTITY (In Thousands) Graph 1 $14.00 10.00 6.00 Q3 Q4 Table The % change for Price = .25% The % change for Quantity = .62% The Elasticity of Demand (ED) = 2.48 The % change for Price = .18% The % change for Quantity = .3% The Elasticity of Demand (ED) = 1.56 The % change for Price = .18% The % change for Quantity = .31% The Elasticity of Demand (ED) = 1.72 The % change for Price = .33% The % change for Quantity = .59% The Elasticity of Demand (ED) = 1.78Consider the following Flat Tax problem. Suppose a flat tax plan would allow all individuals to deduct a standard allowance of $25,000 from their wages. If the flat tax rate was 17% and the individual made a salary of $47,360.00; What would be the Marginal Tax Rate percentage after the stipulated standard allowance? How much Taxes would be paid on that salary of $47,360
