CRX3_101_Fall11

CRX3_101_Fall11 - decreased 2 a Calculate the price...

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\$0 \$4 \$8 \$12 \$16 \$20 \$24 \$28 \$32 0 800 1600 2400 3200 4000 Price Quantity In Class Exercise 3 ECON 101.01 – INTRO MICROECONOMICS Prof. Potepan 14 Sept. 2011 1. a. Calculate the price elasticity of demand for the price change from point A to point B shown on the demand curve below using the mid-point method. b. Calculate total revenue at A. Calculate total revenue at B. Has total revenue increased or
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Unformatted text preview: decreased? 2. a. Calculate the price elasticity of demand for the price change from point A to point B shown on the demand curve below using the mid-point method. b. Calculate total revenue at A. Calculate total revenue at B. Has total revenue increased or decreased? \$0.00 \$0.30 \$0.60 \$0.90 \$1.20 \$1.50 \$1.80 100 200 300 400 500 600 700 Quantity A A B B...
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