Question

In the table below use the data about demands for stoves. Point Price Quantity Demanded A...

  1. In the table below use the data about demands for stoves.

Point

Price

Quantity Demanded

A

$150

6,500

B

$170

5,800

C

$190

5,200

D

$210

4,600

E

$230

4,200

F

$250

4,000
  1. Calculate the elasticity of demand from point A to point B.
  2. Calculate the elasticity of demand from point C to point D.
  3. Calculate the elasticity of demand from point E to point F.
  4. In addition, to each calculation, classify the elasticity at these points as elastic, inelastic, or unitarily elastic.
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