Below are some data on price,income and demand for five different time periods.

-Refer to the information above to answer this question.What is the price elasticity of demand for product Y between years 3 and 4?
A)0.89.
B)1.13.
C)2.67.
D)None of the choices are correct.

Question

Below are some data on price,income and demand for five different time periods.
 
-Refer to the information above to answer this question.What is the price elasticity of demand for product Y between years 3 and 4?
A)0.89. 
B)1.13. 
C)2.67. 
D)None of the choices are correct.

Quizplus · Accepted Answer

The question does not provide the necessary information (such as quantities demanded and prices in years 3 and 4) to calculate the price elasticity of demand for product Y. Therefore, without specific data, it's impossible to determine the correct elasticity value.

Below Are Some Data on Price,income and Demand for Five