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What is the price elasticity of demand of gps units

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Reference no: EM131575835

Question - The figure below represents the weekly demand for GPS units.

1522_figure.png

Instructions: Round your answers to 2 decimal places.

a. When going from a price of $160 per unit to a price of $140 per unit, what is the price elasticity of demand of GPS units?

b. When going from a price of $140 per unit to a price of $160 per unit, what is the price elasticity of demand of GPS units?

c. Using the midpoint formula, what is the midpoint price elasticity of demand of GPS units between a price of $140 per unit and a price of $160 per unit?

d. When going from a price of $40 per unit to a price of $20 per unit, what is the price elasticity of demand of GPS units?

e. When going from a price of $20 per unit to a price of $40 per unit, what is the price elasticity of demand of GPS units?

f. Using the midpoint formula, what is the midpoint price elasticity of demand of GPS units between a price of $20 per unit and a price of $40 per unit?

Reference no: EM131575835

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