Please find the below attached excel sheet and solve the problem according to the instructions are on tab 2, Also pasted here
| Project Description:
In this problem, you will investigate the pattern of price elasticity of demand calculated along the demand curve. |
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| Steps to Perform: | |||
| Step | Instructions | Points Possible | |
| 1 | Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers.
Start Excel. |
0 | |
| 2 | In cell E10, by using relative and absolute cell references, calculate the point price elasticity of demand at the price in cell C10 and the quantity in cell D10. Copy the formula from cell E10 down the column to cell E28. | 1 | |
| 3 | In cells H31 and J31, by using cell references, enter the range of prices at which the demand curve is inelastic.
Note: The range of prices should go from the lowest to the highest value. |
1 | |
| 4 | In cell H32, by using a cell reference, enter the price at which the demand curve has unitary elasticity. | 1 | |
| 5 | In cells H33 and J33, by using cell references, enter the range of prices at which the demand curve is elastic.
Note: The range of prices should go from the lowest to the highest value. |
1 | |
| 6 | Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed. | 0 | |
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