estion. 10. Leticia walks down stairs, alternating her feet. Leticia is probably _______ year(s) old. A. four B. two C. one D. t
2 answers:
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Answer:
Explanation:
Please have a look at the attached photo below
We know the formula of the price elasticity of demand:
<em>percentage change of quantity demanded/percentage change of price </em>
Given:
- P1: $2.65 => D1 (quantity sugar-free gummy bears) = 181 and O1 (quantity ordinary gummy bears) =485
- P2: $3.05=>D2 (quantity sugar-free gummy bears) = 157 and O2 (quantity ordinary gummy bears) =273
So:
= %ΔD / %ΔP
= (ΔD/ (D1+D2) ) / (ΔP/
(P1+P2))
= (181-175) / ( 157+181 ) : (3.05 -2.65)/
( 3.05 +2.65 )
= :
= 0.24
= %ΔO / %ΔP
= (ΔO/ (O1+O2) ) / (ΔP/
(P1+P2))
= (273-485) / ( 273+485) : (3.05 -2.65)/
( 3.05 +2.65 )
= :
=- 3.9
