ECON 545 Final Exam -The supply a
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1. The supply and demand schedules for tickets to basketball games in town of Oakwood are given in the table below.
Price Quantity Demanded Quantity Supplied
$6 5,000 2,000
7 4,000 2,000
8 3,000 2,000
9 2,000 2,000
10 1,000 2,000
The stadium owners need to find the optimum price for the games.
1. What are the coefficients of elasticity of supply and demand if the price is raised from $6 to $8? (8 points)
[Solved] ECON 545 Final Exam -The supply a
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