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Table 16-2

Quantity Demanded in Middle Fall
(tubes per week)
Price per Tube
Quantity Demanded in West Fall
(tubes per week)
Price per Tube
1$8.001$5.00
2  7.002  4.50
3  6.003  4.00
4  5.004  3.50
5  4.005  3.00
Neem Products sells its Ayurvedic Neem toothpaste in two completely isolated markets with demand schedules as shown in Table 16-2. The average cost of production is constant at $2 per tube.


Refer to Table 16-2. Which of the following statements is true about the two markets?

• The demand in Middle Fall is more price elastic than the demand in West Fall.

• The demand in Middle Fall is less price elastic than the demand in West Fall.

• The demand in Middle Fall is more income elastic than the demand in West Fall.

• The demand in Middle Fall is less income elastic than the demand in West Fall.
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Microeconomics
Edition: 7th
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Posts: 56
2 weeks ago
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The demand in Middle Fall is less price elastic than the demand in West Fall.
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