Written Section of Test 3 Unit 3 Economics
Name
Work out these scenarios step by step and find out if they are elastic or inelastic. Use the space underneath the questions to show your work and how you get your answer.
Scenario # 1
35. The price of cell phone data goes up from $25 to $100, and the quantity demanded decreases from 100gb to 65gb. What type of Elasticity is it?
