Q2 Using the total expenditures criterion, determine if the demand schedules given in the following table are elastic, inelastic or unitary elastic. Give an example for each of the product below and provide reasons for choosing the examples. (10m)
P($) | 5 | 4 | 3 | 2 | 1 |
Qx | 100 | 130 | 180 | 275 | 560 |
Qy | 100 | 120 | 150 | 220 | 430 |
Qz | 100 | 125 | 167 | 250 | 500 |
完全不知道从哪里下手,求高手帮忙指教,不胜感激!!!