When the price rises from $1 to $2 a dvd, what is the price elasticity of demand? nothing (use the point elasticity formula at the initial price of $1. enter your response as a decimal rounded to two places.)

0.33 (to 2 decimal places)

Explanation:

Old Price =1

New Price =2

1st QDemand =150

2nd QDemand =100

Calculating the Change in Quantity Demanded

[1st QDemand - 2nd QDemand] / 2nd QDemand

[100 - 150] / 150 = (-50/150) = -1/3 = -0.3 recurring.

Calculating the Change in Price [New Price - Old Price] / Old Price

[2 - 1] / 1 = (1/1) = 1

PEoD = (% Change in Quantity Demanded)/(% Change in Price)

PEoD = -0.333/1 = -0.333 (2dp)

Ignore the negative sign when calculating price elasticity, becasue PEoD, Price Elasticity of Demand is always positive.

As PEoD = +0.33 (2dp) is less than 1, Demand is therefore Price Inelastic.

(Since Demand is not sensitive to changes in price)

can your question and add a list so i can you out?

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.