Question

# The price of a large pizza decreased from \$18.00 to \$14.00. As a result, the quantity...

The price of a large pizza decreased from \$18.00 to \$14.00. As a result, the quantity demanded of skateboards increased from 250.00 to 270.00.

1st attempt

Part 1   (1 point)

See Hint

Using the midpoint formula, what is the percentage change observed for the price of a large pizza? Give your answer to two decimal places.
%

Part 2   (1 point)

See Hint

Using the midpoint formula, what is the percentage change observed for the quantity demanded of skateboards? Give your answer to two decimal places.
%

Part 3   (1 point)

See Hint

What is the cross-price elasticity of demand between pizzas and skateboards? Give your answer to two decimal places.

#### Homework Answers

Answer #1

See images for answers

Know the answer?
Your Answer:

#### Post as a guest

Your Name:

What's your source?

#### Earn Coins

Coins can be redeemed for fabulous gifts.

##### Not the answer you're looking for?
Ask your own homework help question