Calculating the price elasticity of demand: A step-by-stepguide Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer...

Calculating the price elasticity of demand: A step-by-stepguide Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer sales decreased from 470,000 to 363,000 laptops. Calculate the elasticity of demand between these two price-quantity combinations by using the following steps. After each step, complete the relevant part of the table with the appropriate answers. (Note: For decreases in price or quantity, enter values in the Change column with a minus sign.) Original New Average Change Percentage Change