B. Calculate the price elasticity of demand for large drinks. (Show your work) Last month= $6.00 with 150 quantity This month= $5.50 with 161 quantity Elasticity of demand = Q2-Q1 161/150 divided by (Q1+02) 150+161=311 divided by 2 = 155.5

B. Calculate the price elasticity of demand for large drinks. (Show your work) Last month= $6.00 with 150 quantity This month= $5.50 with 161 quantity Elasticity of demand = Q2-Q1 161/150 divided by (Q1+02) 150+161=311 divided by 2 = 155.5

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

B. Calculate the price elasticity of demand for large drinks. (Show your work)
Last month= $6.00 with 150 quantity
This month= $5.50 with 161 quantity
Elasticity of demand = Q2-Q1 161/150 divided by
(Q1+02) 150+161=311 divided by 2 = 155.5

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