15/8= 1.

875

Elastic

20/5= 4

Elastic

50/25=2

Elastic
 (12-9)/9 x100= 33.33

(35-37)/37 x100= 5.405

5.405/33.33= 0.1621662166

Inelastic

(15-12)/12 x100= 25

(33-35)/35 x100= 5.714

5.714/25= 0.22856

Inelastic

When price increases the percentage of change in price decreases, and when price increase the quantity
demanded decreases however, the percentage change in quantity demanded increases.
 (400-300)/400 x100= 25%

(9000-8000)/800 x100= 12.5%

12.5/25= 0.3

Inelastic

(200-100)/200 x 100= 50%

(11000-10000)/10000 x 100= 10%

10/50= 0.2

Inelastic

When price decreases the percentage of change in price increases, and when price decreases the
quantity demanded increases however, the percentage change in quantity demanded decreases as well.
 Not able to provide enough medicine

Government spend 350 million a year on drugs would be an oppurtunity cost.

Income of people
Inelastic It is a need when cooking food or eating in general

Elastic There are a lot of competitor, in other words there are

alternative and car’s is a want

Elastic There are other subtitute that people can consume,

it is just a want

Elastic It is just a want

Inelastic It is needed for people that has diabetes

There are competitors

Elastic

Consumers could wait and expect a decrease in price in

the near future
Elastic

People don’t have other alternative option as gasoline is

needed by cars
Inelastic