How do I calculate the price elasticity in this chart? and how do I graph the results? P Q Price Total Elasticity Revenue $9.00 1 - 9 $8.00 2 16 $7.00 3 21 $6.00 4 24 $5.00 5 25 $4.00 6 24 $3.00 7 21 $2.00 8 16 Back

How do I calculate the price elasticity in this chart? and how do I graph the results? P Q Price Total Elasticity Revenue $9.00 1 - 9 $8.00 2 16 $7.00 3 21 $6.00 4 24 $5.00 5 25 $4.00 6 24 $3.00 7 21 $2.00 8 16 Back

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 3SQP

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Question

How do I calculate the price elasticity in this chart? and how do I graph the results?

P	Q	Price	Total
		Elasticity	Revenue
$9.00	1	-	9
$8.00	2		16
$7.00	3		21
$6.00	4		24
$5.00	5		25
$4.00	6		24
$3.00	7		21
$2.00	8		16

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