Homework: Homework 4 Score: 0 of 2 pts End of Chapter 3.7 HW Score: 772296, 23,
ID: 2440077 • Letter: H
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Homework: Homework 4 Score: 0 of 2 pts End of Chapter 3.7 HW Score: 772296, 23, 17 of 30 pts Question Help questions that follow Use the midpoint formula to calculate the price elasticity of demand for D 3.75 A c B. between point A and point C and the price elasticity of demand for D2 between point A and point B Price elasticity of demand for D-360 Enter your response rounded to two decimal places Be sure to include the minus sign) 2 751P 50- 200 Price elasticity of demand for D'-085 Enter your response rounded to two decimal places Be sure to include the minus sign) Which curve is more elastic? D1 D2 Suppose Yolanda is initially selling 200 cones per day at a price of $2.50 per cone. If she changes her price to $3.50 per cone and her demand curve is Di what will be the change in her revenue?s 50 Enter your answer in the answer box and then click Check Answer Clear AllExplanation / Answer
Ans) $325
When price = 2.50 then quantity = 200
Total revenue = price *quantity = 2.50* 200 = 500
When price = 3.50 then quantity = 50
Total revenue = price *quantity = 3.50* 50 = 175
Change in total revenue = 500 - 175 = 325
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