Posted by **Andy** on Tuesday, September 10, 2013 at 1:02pm.

Suppose the price of widgets rises from $7 to $9 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Use the Midpoint formula and please show your work

## Answer This Question

## Related Questions

- economics - Suppose the price of widgets falls from $7 to $5 and consumption of ...
- Econ - The demand for widgets (QX) is given by the following equation: QX = 425-...
- ECONOMICS - Willy’s widgets, a monopoly, faces the following demand schedule (...
- economics - Willy’s widgets, a monopoly, faces the following demand schedule (...
- Economics - Suppose that the equilibrium quantity in the market for widgets has ...
- Econ MC - Suppose that the equilibrium price in the market for widgets is $5. If...
- Calculus - A company manufactures widgets. The daily marginal cost to produce x ...
- statistics - The probability any one widget is free of defects is 0.93. For ...
- statistics - Three percent of the widgets produced by machine 1121 are defective...
- Probability/Statistics - Please help!!! Smith Widget Company makes widgets for ...

More Related Questions