Summary: Elasticity W GA Table Of Contents X f. Price decreases and demand is perfectly inelastic. Contents g. Price increases and demand is perfectly elastic. Bookmarks Recent 2.10 Using the midpoint formula and the following graph, calculate the price elasticity of Critical Thinking Questions demand when the price changes from $3 to $8 and when the price changes from $8 to ( 0 > $14. 6: Household Behavior and Consumer Choice (Part II: The Q Market System) > 6 Appendix: Indifference Curves 14 7: The Production Process: The Behavior of Profit- 10 Maximizing Firms Prices (S) > 7 Appendix: Isoquants and Isocosts 8 > 8: Short-Run Costs and Output Decisions AA 3 Demand > 9: Long-Run Costs and Output Decisions > 9 Appendix: External Economies and Diseconomies 11 17 Quantity > 10: Input Demand: The Labor and Land Markets 11: Input Demand: The Capital Market and the Investment 2.11 Use the following total revenue graph to identify which sections of the total revenue Decision curve reflect elastic demand, inelastic demand, and unitary elastic demand. Explain your Hide > answers. 11 Appendix: Calculating Present Value