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1. You increased your price from $9 to $14. As a result, you found that the...

1. You increased your price from $9 to $14. As a result, you found that the amount you sell each month decreased from 1500 to 1000. Find the arc price elasticity of demand and identify.

2. You lowered your price from $2500 to $2300. You found that the amount you could sell each year increased from 8000 to 12000. Find the arc price elasticity of demand and identify

3. You increased your price from 50 cents to 75 cents. (.5 to .75). Your weekly sales dropped from 60,000 to 40,000. Find the arc price elasticity of demand and identify.

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