What is the price elasticity of demand coefficient for Good X between the prices of Good X of $4 to $5? (Round to hundredth please.) (No work needed.)
Row | Price of Good X | Quantity Demand of Good X | Quantity Supply of Good X | Price of Good Y | Buyer's Income |
|---|---|---|---|---|---|
1 | $1 | 40 | 12 | $10 | $100 |
2 | 2 | 40 | 15 | 11 | $120 |
3 | 2 | 36 | 15 | 13 | $110 |
4 | 4 | 10 | 28 | 13 | $105 |
5 | 5 | 9 | 35 | 14 | $95 |
6 | 6 | 8 | 50 | 12 | $90 |
7 | 7 | 3 | 55 | 9 | $90 |
Use this table for ALL calculations. Heads up...there are NO mistakes in this table. The table may or may not represent functions that you are familiar with. FOCUS only on the parts of the table that are requested in your problem.
Between 0 and 1
Between 1 and Infinity
Percent Change in Price of Good X
$72