When a price of a good increased by 2 percent the quantity demanded decreased by 10 percent What is the price elasticity of demand?

1 answer

Answer

1086987

2026-03-09 17:40

+ Follow

Price elasticity of demand= percentage change in demand/percentage cgange in price 2 = % chnge in demand/10 % change in demand= 2*10 % change in demand= 20%

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.