Elasticity Assignment

Problem Set One - 2 - Price - Elasticity of Demand | | | | | | |

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  | P1 | P2 | QD1 | QD2 | I | II | III | IV | V | |

1 | 1.0 | 2.0 | 10 | 5 | 1.00 | Unitary | Neither | $ - |   | |

2 | 5.0 | 3.0 | 40 | 90 | 1.54 | Elastic | Luxury | $ 70 | - | |

3 | 12.0 | 20.0 | 200 | 200 | 0.00 | Perfectly Inelastic | Necessity | $ 1,600 | - | |

4 | 3.0 | 2.0 | 9 | 9 | 0.00 | Perfectly Inelastic | Necessity | $ 9 | + | |

5 | 0.4 | 1.4 | 30 | 15 | 0.60 | Inelastic | Necessity | $ 9 | - | |

6 | 1.2 | 4.0 | 20 | 15 | 0.27 | Inelastic | Necessity | $ 36 | - | |

7 | 7.5 | 4.6 | 40 | 30 | 0.59 | Inelastic | Necessity | $ 162 | + | |

8 | 5.0 | 5.0 | 1000000 | 0 | na | Perfectly Elastic | Luxury | $ - |   | |

9 | 5.0 | 5.0 | 10 | 1000000000 | na | Perfectly Elastic | Luxury | $ 4,999,999,950 | - | |

10 | 6.0 | 12.0 | 12 | 6 | 1.00 | Unitary | Neither | $ - |   | |

11 | 18.0 | 36.0 | 360 | 180 | 1.00 | Unitary | Neither | $ - |   | |

12 | 7.0 | 15.0 | 24 | 16 | 0.55 | Inelastic | Necessity | $ 72 | - | |

13 | 7.0 | 16.0 | 78 | 78 | 0.00 | Perfectly Inelastic | Necessity | $ 702 | - | |

14 | 25.0 | 65.0 | 150 | 100 | 0.45 | Inelastic | Necessity | $ 2,750 | - | |

15 | 65.0 | 91.0 | 1300 | 780 | 1.50 | Elastic | Luxury | $ 13,520 | + | |

16 | 4.0 | 5.0 | 21 | 11 | 2.81 | Elastic | Luxury | $ 29 | + | |

17 | 8.0 | 4.0 | 30 | 54 | 0.86 | Inelastic | Necessity | $ 24 |...