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    Own Price elasticity

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    Own Price elasticity. Given the data to the right, compute the POINT elasticity of demand of a good as its price goes from $1.00 to $1.50. Show formula and work.
    Price Quantity
    1.00 10
    1.50 9

    Is the demand for this good in this range elastic or inelastic?

    If the wage bill per unit of labor (L) is $30 and the cost of capital (K) is $200 in the short run, fill in the BLANKS in the table below.
    L Q TVC MPL APL AVC TFC TC ATC MC
    0 0 200
    1 4 200
    2 10 200

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    https://brainmass.com/economics/elasticity/own-price-elasticity-298617

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    Own Price elasticity. Given the data to the right, compute the POINT elasticity of demand of a good as its price goes from $1.00 to $1.50. Show formula and work.
    Price Quantity
    1.00 10
    1.50 9

    Point elasticity = % change in quantity ...

    Solution Summary

    Own Price elasticity is determined.

    $2.19

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