Sia

1. The market for pizza delivery in a city has the following demand and supply schedules.  

\begin{tabular}{|c|c|c|}  
\hline  
Price & \begin{tabular}{c} \nQuantity \\ \nDemanded \end{tabular} & \begin{tabular}{c} \nQuantity \\ \nSupplied \end{tabular} \\  
\hline  
10 & 80 & 30 \\  
\hline  
12 & 70 & 50 \\  
\hline  
14 & 60 & 70 \\  
\hline  
16 & 50 & 90 \\  
\hline  
18 & 40 & 110 \\  
\hline  
\end{tabular}  
  

a. Calculate the price elasticity of demand as the price increases from \$14 to \$16.  
b. Calculate the price elasticity of supply between a price of \$14 and \$16.  
c. Between the prices of \$14 and \$16, which is more inelastic, demand or supply?  
d. Calculate the price elasticity of demand as the price increases from \$10 to \$12. How does demand elasticity change as you move up the demand curve?  
e. Calculate the price elasticity of supply between a price of \$12 and \$14. How does supply elasticity change as you move up the supply curve?