Price Quantity

0 24,000
30 18,000
50 14,000
70 10,000
100 4,000
110 2,000
120 0

2. Solve the elastic interval from 30 to 50

Solution:
Change in Quantity -20
divided by Average Quantity 40 0.25

divided by:
Change in Price -20
divided by Average Price 40 (0.5)
(0.5)
Interval elasticity demand 0.5

3. Solve the elastic interval from 100 to 110

Solution:
Change in Quantity -10
divided by Average Quantity 105 0.6667

divided by:
Change in Price -10
divided by Average Price 105 (0.0952)
(7.0031)
Interval elasticity demand 7.0031

4. Solve the elastic interval from 50 to 70

Solution:
Change in Quantity 4,000
divided by Average Quantity 12,000 0.3333

divided by:
Change in Price -20
divided by Average Price 60 (0.3333)
(1)
Interval elasticity demand 1