Question 5 The price of a product falls from £80 to £64 and the demand for the product rises from 300 units to 330 units. What is the price elasticity of demand? A B -0.5 C -2.0 D -2.5 +0.5
Question 5 The price of a product falls from £80 to £64 and the demand for the product rises from 300 units to 330 units. What is the price elasticity of demand? A B -0.5 C -2.0 D -2.5 +0.5
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 14RQ: Describe the general appearance of a demand or a supply curve with infinite elasticity.
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