00:02
At part a we have to find slope between points a and b.
00:11
So the formula is change in quantity divided by price.
00:15
So here change in quantity 33 minus 11 divided by change in price $44 minus $11.
00:23
Here it is 23 which is 0 .67 rounded to two decimal places.
00:29
So this is the slope of a and b.
00:32
Now we have to find slope of between point c and d.
00:41
Here again change in quantity divided by change in price.
00:45
So this is 11 minus 55 divided by 22 minus 44.
00:53
So here we got minus 44 by minus 22 which is 2 .00 rounded to two decimal places.
01:02
Now at this c part the price at which the elasticity of demand is equal to 1 when the demand curve is unitary elastic.
01:13
So this means the percentage change in quantity demanded percentage change in quantity demanded is equals to percentage change in price.
01:23
So for a and b we have already calculated the slope for c and d already calculate the elasticity this.
01:30
Therefore elasticity equals to 1 between points a and b elasticity is 0 .67, which is not equal to 1 and points c and d elasticity is 2 .0, which is not equals to 1...