bus-139-hw-ch-14-elasticity-a (1).docx

bus-139-hw-ch-14-elasticity-a (1).docx - bus 139 hw ch 14...

Info icon This preview shows pages 1–2. Sign up to view the full content.

bus 139 hw ch 14 elasticity 1 of 2 BUS 139 Homework Chapter 14 Elasticity Name __________________________________________ Date _________________ (Name and date required only if submitted in hard copy format.) Scoring Rubric Each item: 1 point (%∆Q, %∆P, %∆Q/%∆P, and elastic/inelastic declaration) Maximum score: 16 points In each case perform the indicated calculations to determine the numeric elasticity value and whether it indicates elastic or inelastic demand in that range. To receive credit you much show your intermediate calculations for %∆Q and %∆P as well as the final value and a declaration in elastic or inelastic. 1. Determine the price elasticity of demand and state whether it is elastic or inelastic when the price increases from $15 to $20 and demand decreases from 300 units to 250 units. %∆Q = %∆P = %∆Q/%∆P = elastic or inelastic? 2. Determine the price elasticity of demand and state whether it is elastic or inelastic when
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • Fall '14
  • W.Hauser

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern