How did they get the price elasticity number of 9.1 and so on moving down the list? I am looking at
Microecoonomics unit 3 chapter 5 questions. I see that TR is quantity by price. When price is $9 and quantity demanded is 1 what is the price of elasticity. I see in a document it is 9.1 but how do I find that, also 8$ at a quantity of 2 is 5.6. The class is BBA 2501 unit 3. What is the equation to find these answers.
(Price Elasticity and Total Revenue) Fill in the blanks for each price quantity combination listed in the following table. Now graph this relationship, making sure to label each axis. What relationship have you depicted?
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