Economy, asked by peehukumar123A, 9 months ago

2.Suppose the price elasticity of demand is equal to - 0.5. Which of the following statements is the correct interpretation of this number?​

Answers

Answered by Akshithayadav
0

Answer:

Elastic demand is when the percentage change in the quantity demanded exceeds the percentage change in price. That makes the ratio more than one. For example, say the quantity demanded rose 10% when the price fell 5%. The ratio is 0.10/0.05 = 2.

Previous Question
Next Question
Similar questions
History, 4 months ago
4. District collector is also known as. Tehsildar Zamindar sarpanch Panchs ​...
Hindi, 4 months ago
Any story in which moral will be दुखडा रोना ​...
Physics, 4 months ago
What happens to the force between two objects, if the distance between the two objects is doubled and then tripled? * options:- a) Reduce by 4 and 12 times b) Reduce by 4 and 36 times c) Increase by 4 and 12 times d) Reduce by 2 and 6 times ​...
Physics, 9 months ago
answer this please fast​...
Math, 9 months ago
सरकम्फ्रेंस ऑफिस सर्किल व्होस डायमीटर इज ​...
Biology, 1 year ago
The setae in the body wall of adult earthworm are present in all segment except in...
Physics, 1 year ago
The refractive index of glass and water with respect to air are 3 by 2 and 4 by 3 respectively if the speed of light in glass is 2 into 10 to the power 18 m per second find the speed of light in water...
Chemistry, 1 year ago
The number of atoms contained in a fcc unit cell of a monoatomic substance is...