Question: Table 1 shows the percentage change in quantity demanded and the percentage change in price for two types of goods. Goods YZ XW Percentage

Table 1 shows the percentage change in quantity demanded and the percentage

Table 1 shows the percentage change in quantity demanded and the percentage change in price for two types of goods. Goods YZ XW Percentage change in quantity demanded 24% 8% Percent change in price 20% 10% (a) Calculate the elasticity of goods YZ. (b) Calculate the elasticity of goods XW. (c) What is the elasticity of goods YZ and goods XW. Elastic or inelastic.

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