Wednesday
April 16, 2014

Homework Help: Economics

Posted by Yellow Bird on Wednesday, October 25, 2006 at 11:24pm.

Show price elasticity of demand for Company XYZs product.
Using the following data:


Price Quantity
2000 5.00 100

2001 5.25 115

2002 5.50 150

2003 6.00 198



Calculate endpoint elasticity from 2000 to 2003 over the entire period.

Use the arc convention and the traditional percent change calculations.

Show work and compare results.

Finally, is this a typical situation?

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