Enable text based alternatives for graph display and drawing entry

Try another version of this question

Suppose that a store decreases the price of cereal from $4.1 to $3.7. As a result, quantity demanded increases from 220 to 230.

Using the mid-point approach, calculate the percentage change in price.

Make sure that you include a negative sign if necessary.

 

Suppose that a store decreases the price of laundry detergent from $4.3 to $3.8. As a result, quantity demanded increases from 180 to 240.

Using the mid-point approach, calculate the percentage change in quantity demanded.

 

Suppose that a store increases the price of peanut butter from $3.4 to $4. As a result, quantity demanded decreases from 230 to 180.

Using the mid-point elasticity approach, calculate price elasticity of demand.

Your answer should be expressed in absolute value terms.