is due on WEDNESDAY DECEMBER 13th at 9:30AM. You are required to e ot come to cl

Question

is due on WEDNESDAY DECEMBER 13th at 9:30AM. You are required to e ot come to class, you will receive a zero for the Final Exam. College policy requires us to meet on th 1 Question 41 Price (dollars per PlayStation) 105 . 100 95 90 100 10 Quantity (PlayStations per month) 130 Thr demand curve shown in the figure above is--over the price range from $95 to S105 per unit. O perlectly elastic O perlectly inelastic O unit elastic * elastic but not perdectly elastic =wiastic but not pertedy inalatc . Previaus

Explanation / Answer

first here we have to calculate the elasticity which is the ratio of the percentage change in quantity demanded to the percentage change in prices,

here it is 110-90/90 / 95-105/95 = 2/9 / -10/95 = -9.5

means that the demand is highly elastic

so answer is "elastic but not perfectly elastic"

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