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5.1A Let's practice calculating elasticity

Last updated almost 3 years ago

6 questions

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Question 1

1.

What does elasticity measure?

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.

Question 5

5.

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.

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

inelastic

elastic

unitary

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

inelastic

elastic

unitary