Question

A college management decided to decline the number of cars of its parking permit; and decided to increase purchasing parking permit 40br to 48 br. So still many students are using the parking permit with the increasing of the many while few students have stopped.
So the college sold year 1: 12800 parking passes and year 2 : 11520 parking passes
So find: percentage change in quantity
Percentage change in price
Price elastic of demand
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Answer 1

Answer:

management decided to decline the number of cars of its parking permit; and decided to increase purchasing parking permit 40br to 48 br. So still many students are using the parking permit with the increasing of the many while few students have stopped.

So the college sold year 1: 12800 parking passes and year 2 : 11520 parking passes

So find: percentage change in quantity

Percentage change in price

Price elastic of demand