HW 1.1 Stimulus 2
Use the data below from June and August 2015 to answer the following questions:
Effects on prices and quantity of marijuana sold in Washington, June and August 2015
Date
Quantity Sold (average grams per day)
Price (per gram)
June 2015 (pre tax change)
310.0
13.18
August 2015
303.1
13.48
Question at position 4
4
10 points
Question at position 4
Comparing June 2015 to August 2015, using the arc formula for price elasticity of demand: What is the price elasticity of demand?
The price elasticity of demand is negative ___________ (round to 2 decimal places).
Comparing June 2015 to August 2015, using the arc formula for price elasticity of demand: What is the price elasticity of demand?
The price elasticity of demand is negative ___________ (round to 2 decimal places).
Type your answer...
Question at position 5
5
10 points
Question at position 5
Based on your calculation above, demand is
Question Blank 1 of 2
choose your answer...
, which means that dispensary revenue would
Question Blank 2 of 2
choose your answer...
if the business didn’t have to pay the sales tax to the government.