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Variant 9. Theme: Elasticity


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Task 1 Problem of Elasticity

Variant 9. Theme: Elasticity


  1. The table shows quantity demanded at different price level.

Price ($) P

Quantity demanded
(units) Qd

Total Revenue ($)

Price elasticity coefficient

4,70

15




------------------

4,50

20







4,30

25







4,10

30







3,90

35







3,70

40







3,50

45






Questions:



  1. Calculate TR for each price and fill in the table;

  2. Calculate price elasticity coefficient for each price;

  3. Compare coefficient and TR.



  1. When the price of a CD is $ 9 per CD, 28,000 000 CDs per year are supplied. When the price is $ 11 per CD, 32,000 000 CDs per year are supplied. What is the elasticity of supply for CDs.




  1. A fall in the price of X from $12 to $ 7 causes an increases in the quantity of Y demanded from 860 to 980 units. What is the cross elasticity of demand between X and Y.




  1. A 24 percent increase in the quantity of spinach demanded results from a 8 percent decline in its price. The price elasticity of demand for spinach is _____________.


Variant 10. Theme: Elasticity


  1. The table shows quantity demanded at different price level.

Price ($) P

Quantity demanded
(units) Qd

Total Revenue ($)

Price elasticity coefficient

0,70

34




------------------

1,00

30







1,30

26







1,60

22







1,90

18







2,10

14







2,40

10






Questions:



  1. Calculate TR for each price and fill in the table;

  2. Calculate price elasticity coefficient for each price;

  3. Compare coefficient and TR.



  1. When the price of a CD is $ 15 per CD, 38,000 000 CDs per year are supplied. When the price is $ 11 per CD, 31,000 000 CDs per year are supplied. What is the elasticity of supply for CDs.




  1. A fall in the price of X from $16 to $ 10 causes an increases in the quantity of Y demanded from 900 to 1 000 units. What is the cross elasticity of demand between X and Y.




  1. A 9 percent increase in the quantity of spinach demanded results from a 14 percent decline in its price. The price elasticity of demand for spinach is _____________.


Variant 11. Theme: Elasticity


  1. The table shows quantity demanded at different price level.

Price ($) P

Quantity demanded
(units) Qd

Total Revenue ($)

Price elasticity coefficient

5,90

13




------------------

5,50

16







5,10

19







4,70

22







4,30

25







3,90

28







3,50

31






Questions:



  1. Calculate TR for each price and fill in the table;

  2. Calculate price elasticity coefficient for each price;

  3. Compare coefficient and TR.



  1. When the price of a CD is $ 12 per CD, 40,000 000 CDs per year are supplied. When the price is $ 17 per CD, 47,000 000 CDs per year are supplied. What is the elasticity of supply for CDs.




  1. A fall in the price of X from $14 to $ 11 causes an increases in the quantity of Y demanded from 960 to 1 450 units. What is the cross elasticity of demand between X and Y.




  1. A 18 percent increase in the quantity of spinach demanded results from a 9 percent decline in its price. The price elasticity of demand for spinach is _____________.


Variant 12. Theme: Elasticity


  1. The table shows quantity demanded at different price level.

Price ($) P

Quantity demanded
(units) Qd

Total Revenue ($)

Price elasticity coefficient

3,50

10




------------------

3,20

12







2,90

14







2,60

16







2,30

18







2,00

20







1,70

22






Questions:



  1. Calculate TR for each price and fill in the table;

  2. Calculate price elasticity coefficient for each price;

  3. Compare coefficient and TR.



  1. When the price of a CD is $ 19 per CD, 33,000 000 CDs per year are supplied. When the price is $ 15 per CD, 21,000 000 CDs per year are supplied. What is the elasticity of supply for CDs.




  1. A fall in the price of X from $18 to $ 13 causes an increases in the quantity of Y demanded from 760 to 980 units. What is the cross elasticity of demand between X and Y.




  1. A 4 percent increase in the quantity of spinach demanded results from a 10 percent decline in its price. The price elasticity of demand for spinach is _____________.



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