Q. Cost elasticity of Demand
Quantity Cost Elasticity
Demanded
100 $ 5
80 $10
60 $15
40 $20
20 $25
10 $30
1. Conclude cost elasticity of demand at each quantity demanded utilizing formula % chg in QD divided by % chg in cost.
2. Redo #1 utilizing cost changes of $10 rar than $5
3. Plot cost and quantity data given in demand schedule