A firm has kept track of the quantity demanded of its output during four time periods. Product price, consumer income, and advertising expenditures were also recorded for each time period. The information is provided in the table that follows. Use it to calculate the arc elasticity of demand with respect to price, income, and advertising.
$$\begin{array} { l l l l l }
\text { Time Period } & 1 & 2 & 3 & 4 \
\text { Quantity } & 120 & 80 & 100 & 80 \
\text { Price } & 20 & 30 & 30 & 30 \
\text { Income } & 150 & 150 & 250 & 250 \
\text { Advertising } & 50 & 50 & 50 & 30
\end{array}$$

Question

A firm has kept track of the quantity demanded of its output during four time periods. Product price, consumer income, and advertising expenditures were also recorded for each time period. The information is provided in the table that follows. Use it to calculate the arc elasticity of demand with respect to price, income, and advertising.
 $$\begin{array} { l l l l l } 
\text { Time Period } & 1 & 2 & 3 & 4 \
\text { Quantity } & 120 & 80 & 100 & 80 \
\text { Price } & 20 & 30 & 30 & 30 \
\text { Income } & 150 & 150 & 250 & 250 \
\text { Advertising } & 50 & 50 & 50 & 30
\end{array}$$

Quizplus · Accepted Answer

The Answer of A firm has kept track of the quantity demanded of its output during four time periods. Product price, consumer income, and advertising expenditures were also recorded for each time period. The information is provided in the table that follows. Use it to calculate the arc elasticity of demand with respect to price, income, and advertising.
 $$\begin{array} { l l l l l } 
\text { Time Period } & 1 & 2 & 3 & 4 \
\text { Quantity } & 120 & 80 & 100 & 80 \
\text { Price } & 20 & 30 & 30 & 30 \
\text { Income } & 150 & 150 & 250 & 250 \
\text { Advertising } & 50 & 50 & 50 & 30
\end{array}$$

A Firm Has Kept Track of the Quantity Demanded of Its