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Use the demand schedule in the table below to answer the following questions. Use the mid-point method in your calculations. Price ($) Quantity 0 60
Use the demand schedule in the table below to answer the following questions. Use the mid-point method in your calculations. Price ($) Quantity 0 60 4 50 8 40 12 30 16 20 20 10 24 0 Instructions: Round intermediate calculations and round your answers to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. a. The price elasticity of demand for a price change from $4 to $8 is: . b. The price elasticity of demand for a price change from $8 to $16 is: . c. The price elasticity of demand for a price change from $20 to $24 is
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