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larisa86 [58]
3 years ago
7

Describe the word play that occurs in this passage what is the author using the word expectations

Social Studies
1 answer:
Gnoma [55]3 years ago
6 0

Answer:

idk find someone else

Explanation:

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3 years ago
Use the midpoint method to calculate the price elasticity of demand for potato chips that increased in price from $2.00 to $3.00
fiasKO [112]

Answer:

e_p ≅ -1.7.

Explanation:

Let's calculate the change in quantity:

\frac{Q_2 - Q_1}{\frac{Q_2+Q_1}{2} } = \frac{50-100}{\frac{50+100}{2} } = (approx.) -0.67.

Let's now calculate the change in price:

\frac{P_2 - QP_1}{\frac{P_2+P_1}{2} } = \frac{3.00-2.00}{\frac{3.00+2.00}{2} } = 0.40.

Finally, let's calculate the price elasticity of demand:

e_p = \frac{-0.67}{0.40} = (approx) -1.7.

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