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    Elasticity Concepts Using Computation and Graphing

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    With respect to the price elasticity of demand, construct a graph using the data in figure 1. Illustrate the ranges on the demand curve that indicate elastic, inelastic, and unitary elasticity. Explain your answers. Enter non-numerical responses in the same worksheet using tax boxes.
    Quantity total elasticity elastic
    Price demanded revenue coefficient inelastic
    $4 100 ------------ xxxx xxxx
    6 80 ------------- ---------- -------------
    8 60 -------------- ----------- ----------------
    10 40 -------------- ------------ -----------------
    12 20 ----------- ------------- ---------------
    14 1 ----------------- ------------ ---------------

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    https://brainmass.com/economics/capitalism/elasticity-concepts-computation-graphing-569572

    Solution Summary

    This is an illustration of the elasticity concepts using spreadsheet given numerical data.

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