Question

calculate the price elasticity .
A, price rise from 5to6
B, price rises from 3to4




6 = 5500
5 = 5000
4 = 4500
3 =3000​

Answer 1

Answer:

percentage change in demand = ΔQQ×100=−30150x100=−20%

Price Elasticity of demand (Ed)= Percentage change in Quantity demandedpercantage change in price=−20%25%

Price Elasticity of Demand (Ed)=(−)0.8