## This Post Has 3 Comments

1. darwin59651 says:

Elasticity of demand is -0.6 or -60%

Explanation:

Elasticity of demand measure the responsiveness of demand against the change in price of the product.

Using mid point method

Change in Demand = ( D2 - D1 ) / [ ( D2 + D1 )/2 ]

Change in Demand = ( 6161 - 6666 ) / [ ( 6161 + 6666 )/2 ]

Change in Demand = -505 / 6413.5

Change in Demand = -0.07874

Change in price = ( P2 - P1 ) / [ ( P2 + P1 )/2 ]

Change in price = ( 3903.9 - 3403.4 ) / [ ( 3903.9 + 3403.4 )/2 ]

Change in price  = $500.5 /$3653.65

Change in price  = 0.136986

Elasticity of Supply =  -0.07874 / 0.136986

Elasticity of Supply = -0.5748 = -0.6

2. Expert says:

The answer is b i think

3. Expert says:

i would say their habit of breaking down.