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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
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 0Part A: I am desperately trying to impress my girlfriend but to no avail. She is a student at TWU and will only read my Tweets (now Xs) if I can estimate the elasticity of demand for the data shown in the table below. Please help me by estimating elasticity for two price changes: a) price increase from $2 to $6 per hour increase from $4 to $9 per hour. Part B question: Considering the previous problem, did you get the same estimates of elasticity for the two changes in price (from $2 to $6 per hour; and from $4 to $9 per hour)? If you did, explain why. If you did not, explain why
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