Register
In New Hampshire, people consumed an average of 39.8 gallons of beer in 2018, and the price per gallon was about $7.61. Suppose all of the difference in beer consumption is due to the price difference.
89.3k views
1 vote
In New Hampshire, people consumed an average of 39.8 gallons of beer in 2018, and the price per gallon was about $7.61. Suppose all of the difference in beer consumption is due to the price difference. Use the midpoint formula to calculate the price elasticity of demand.

User Dhrubajyoti Gogoi
by
4.1k points

1 Answer

4 votes

Answer:

Price elasticity of demand = 0.25

Step-by-step explanation:

The detailed steps and appropriate derivation is as shown in the attached file.

In New Hampshire, people consumed an average of 39.8 gallons of beer in 2018, and-example-1
User Danielreiser
by
4.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.5m questions

5.7m answers

Other Questions

A car is moving 14.4 m/s when it hits the brakes. It slow from 78.8 m, which take 9.92s. It then accelerates at 1.83 m/s 2 for 4.50 s. What is the total displacement?
A 3.63.kgkg chihuahua charges at a speed of 3.3m/s3.3m/s. What is the magnitude of the average force needed to bring the chihuahua to a stop in 0.50s0.50s
5. How does the existence of humans compare with Earth's age?
If you use 750 Newtons of force to accelerate an object to 3.1 m/s​ . What is the object’s mass?
While standing in the middle of a mountain range, a camper is curious to see what would happen if he yelled loudly into the distance. What process will likely happen to the sound waves once the camper
Link Copied!