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Microeconomics Unit 5 Activity 54 Answers ercentage change in price: 2. \[ \frac{12 - 10}{(12 + 10)/2} = \frac{2}{11} = 0.1818 \quad \Rightarrow 18.18\% \] Calculate elasticity: 3. \[ \frac{-22.22\%}{18.18\%} = -1.22 \] Since the absolute value is greater than 1, demand is elastic. This process illustrates how to R Russel Schimmel Oct 10, 2025
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