Use the following demand schedule to answer the question parts below.
Point
Price
Quantity Demanded
Quantity Supplied
A
$10
150
975
B
$9
200
800
C
$8
230
650
D
$7
260
500
E
$6
275
410
F
$5
300
300
G
$4
320
200
H
$3
350
150
I
$2
400
120
J
$1
500
100
Calculate the arc elasticity of demand between each point and its neighbor (that is, from A to B, B to C, etc.) and determine whether each value is price elastic, price inelastic, or unit elastic
Calculate the arc elasticity of supply between each point and its neighbor (that is, from A to B, B to C, etc.) and determine whether each value is price elastic, price inelastic, or unit elastic
Calculate the arc elasticity of demand between A and F, A and D, and A and B and determine whether each value is price elastic, price inelastic, or unit elastic
Calculate the arc elasticity of supply between A and F, A and D, and A and B and determine whether each value is price elastic, price inelastic, or unit elastic
