Question
The price of a large pizza decreased from $21.00 to $17.00.As a result, the quantity demanded of skateboards increased from 330.00 to 350.00. 1st attempt
The price of a large pizza decreased from $21.00 to $17.00.As a result, the quantity demanded of skateboards increased from 330.00 to 350.00.
1st attempt
Part 1(1point)
Using the midpoint formula, what is the percentage change observed for the price of a large pizza? Give your answer to two decimal places. _____%
Using the midpoint formula, what is the percentage change observed for the quantity demanded of skateboards? Give your answer to two decimal places.
________ %
Part 3(1point)
What is the cross-price elasticity of demand between pizzas and skateboards? Give your answer to two decimal places. ________%
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