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The prices and quantities of web cameras (webcams) of three models to be sold in Kyrgyzstan by a U.S. technology firm before and after depreciation
The prices and quantities of web cameras (webcams) of three models to be sold in Kyrgyzstan by a U.S. technology firm before and after depreciation of the Kyrgyzstani Som (KGS) against US dollar are given below. Calculate price elasticity of demand of web cameras for each model and compare the results in terms of price elasticity. Model 1 Model 2 Model 3 KGS 48,000 KGS 6,400 KGS 2,400 P1 KGS 57,600 KGS 7,680 KGS 2,880 Qo 24,000 300,000 600,000 Q1 16,000 240.000 600,000
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