Calculate the elasticity of the demands


Task: Application of Elasticity of Demand formula:

Quantities  Price   Total Revenue

1             8           $8.00
2             7         $14.00
3             6         $18.00
4             5         $20.00
5             4         $20.00
6             3         $18.00
7             2         $14.00
8             1           $8.00

Calculate the elasticity of the demands by using the above table.

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Microeconomics: Calculate the elasticity of the demands
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