Problem
Table shows Alex's demand schedule for chocolate bars.
|
Price
|
Quantity Demand
|
|
1
|
9
|
|
3
|
7
|
|
5
|
5
|
|
7
|
3
|
|
9
|
1
|
i. Calculate the price elasticity of demand between $1 and $3.
ii. Calculate the price elasticity of demand between $3 and $5.
iii. Calculate the price elasticity of demand between $5 and $7.
iv. Calculate the price elasticity of demand between $7 and $9.