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If the price of a good increase by 50 percent and the quantity demanded decreases by 10 percent what is the price elasticity of demand (E)? a.0.10 b.5.00 c.0.20 d.0.50

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16SQ

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If the price of a good increase by 50 percent and the quantity demanded decreases by 10 percent what is the price elasticity of demand (E)?

a.0.10

b.5.00

c.0.20

d.0.50

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