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Refer to the Accompanying Table A) 071
B) 0

Question 117

Multiple Choice

Refer to the accompanying table. When the price drops from $5 to $3, price elasticity of demand for sushi (using the midpoint method) at an income of $30,000 is:  Price  (per roll)   Quantity Demanded  (income $10,000/ year)   Quantity Demanded  (income = $30,000/ year)  $159$248$337$426$515\begin{array} { | l | l | l | } \hline \begin{array} { l } \text { Price } \\\text { (per roll) }\end{array} & \begin{array} { l } \text { Quantity Demanded } \\\text { (income } \\\$ 10,000 / \text { year) }\end{array} & \begin{array} { l } \text { Quantity Demanded } \\\text { (income = } \\\$ 30,000 / \text { year) }\end{array} \\\hline \$ 1 & 5 & 9 \\\hline \$ 2 & 4 & 8 \\\hline \$ 3 & 3 & 7 \\\hline \$ 4 & 2 & 6 \\\hline \$ 5 & 1 & 5 \\\hline\end{array}


A) 0.71.
B) 0.67.
C) 0.10.
D) 0.33.
E) -0.67.

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