Elasticity and Its Application
Figure 1: The Demand Schedule for Barbeque Dinners
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Price |
Quantity Demanded |
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Total Revenue |
Elasticity Coefficient |
Elastic or Inelastic |
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$4 |
100 |
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XXXX |
XXXX |
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6 |
80 |
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__________ |
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8 |
60 |
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10 |
40 |
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__________ |
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12 |
20 |
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__________ |
__________ |
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14 |
1 |
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__________ |
__________ |
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Required:
Prepare an analysis by answering the above-noted questions. Your analysis will consist of two documents as follows:
1. Microsoft Word document: Questions 1-5, 7-10.
2. Microsoft Excel worksheet: Question 6