Problem
Q1) At a price of $100, Beachside canoe rentals rented 11 canoes. When it increased its rental price to $125, 9 canoes were rented. Calculate the absolute value of the price elasticity of demand for canoe rentals, using the mid point formula.
Q2) A demand curve that is horizontal means that the commodity --
Q3) With the increased usage of cell-phone services, what has happened to the price elasticity of demand for land-line telephone services?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.