The price of a large pizza decreased from $18.00 to $14.00. as a result, the quantity demanded of skateboards increased from 330.00 to 350.00. using the midpoint formula, what is the percentage change observed for the price of a large pizza? give your answer to two decimal places. using the midpoint formula, what is the percentage change observed for the quantity demanded of skateboards? give your answer to two decimal places. what is the cross-price elasticity of demand between pizzas and skateboards? give your answer to two decimal places.

a. The percentage change in pizza prices is -25.00%.

b. The percentage change in pizza prices is 5.88%.

c. The cross elasticity of demand for pizza and skateboards is -23.53%.

We follow these steps to arrive at the answer.

The percentage change in price of pizza using the midpoint formula is:

In this question, P₁ is $18 and P₂ is $14

Substituting the values in the formula above we get,

%

The percentage change in quantity of skateboards using the midpoint formula is:

In this question, Q₁ is 330 and Q₂ is 350

Substituting the values in the formula above we get,

%

We calculate the cross elasticity of demand as follows:

%

answer; (10%) commission;