The table shows information on the conditions of demand for ordinary gummy bears and their sugar-free version. Sugar-free Gummy Regular Gummy Bears Demanded (thousands Price Bears Demanded ($ per kg) (thousands of kg) of kg) $2.20 183.00 487.00 $2.60 177.00 381.00 $3 159 275.00 $3.40 139.00 157.00 As the price of gummy bears rises from $2.60 to $3, what are the price elasticities of demand of sugar-free gummy bears and

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...
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Please see below. The 0.7 answer I got came back as being right, but the 1.8 came back as being incorrect. 

The table shows information on the conditions of demand for ordinary gummy bears and their sugar-free version.
Sugar-free Gummy Regular Gummy Bears
Price
($ per kg)
Bears Demanded
Demanded (thousands
(thousands of kg)
of kg)
$2.20
183.00
487.00
$2.60
177.00
381.00
$3
159
275.00
$3.40
139.00
157.00
As the price of gummy bears rises from $2.60 to $3, what are the price elasticities of demand of sugar-free gummy bears and of
ordinary gummy bears? Use the midpoint method and specify answers to one decimal place.
Elasticity of demand of sugar-free gummy bears:
0.7
1.8
Elasticity of demand of regular gummy bears:
Incorrect
Transcribed Image Text:The table shows information on the conditions of demand for ordinary gummy bears and their sugar-free version. Sugar-free Gummy Regular Gummy Bears Price ($ per kg) Bears Demanded Demanded (thousands (thousands of kg) of kg) $2.20 183.00 487.00 $2.60 177.00 381.00 $3 159 275.00 $3.40 139.00 157.00 As the price of gummy bears rises from $2.60 to $3, what are the price elasticities of demand of sugar-free gummy bears and of ordinary gummy bears? Use the midpoint method and specify answers to one decimal place. Elasticity of demand of sugar-free gummy bears: 0.7 1.8 Elasticity of demand of regular gummy bears: Incorrect
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