Question

Table A Price Quantity $100 0 $80   10 $60 20 $40 30 $20 40 $0 50...

Table A
Price Quantity
$100 0
$80   10
$60 20
$40 30
$20 40
$0 50
Question 12:
Refer to Table A. Using the midpoint method, if the price falls from $40 to $20, calculate the value of the price elasticity of demand? What is the type of demand?
Question 14
If the price elasticity of demand for a good is 8, then if the price decreased by 6 percent, what would happen to the quantity demand?
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