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5.1A Let's practice calculating elasticity

Last updated over 2 years ago

6 questions

1

Question 1

1.

What does elasticity measure?

1

1

1

1

1

Question 2

2.

Calculate the elasticity from point H and G using the following formula.

JK. Use this online calculator of price elasticity of demand.

https://goodcalculators.com/price-elasticity-of-demand-calculator/

Please do not include positive nor negative signs on your number. Round to the hundreths place.

Question 3

3.

Calculate the elasticity from point B to A using the following formula:

https://goodcalculators.com/price-elasticity-of-demand-calculator/

Please do not include positive nor negative signs on your number. Round to the hundreths place.

Question 4

4.

What type of elasticity is shown at the top of the demand curve?

inelastic

elastic

unitary

Question 5

5.

What type of elasticity is shown at the bottom of the demand curve?

inelastic

elastic

unitary

Question 6

6.

Zoom in on the percent change in price from A to B, then B to C, then C to D.
Now do the same for the percent change in quantity from A to B, then B to C, and then C to D.
Write down what you notice.
Then, explain the difference between a curved and straight line in terms of elasticity.