Economy, asked by narujothi, 2 months ago

Calculate the price elasticity of demand for the good, if demand for the good reduces by 4% due to the rise in price by 20%.

Answers

Answered by aryansmore

0

Answer:

Calculate the price elasticity of demand for the good, if demand for the good reduces by 4% due to the rise in price by 20%.

Answered by asifhameedx3

2

Answer:

0.2%

Explanation:

Price Elasticity of demand = % Change in Quantity Demanded divided by % Change in Price.

% Change in Demand = 4%

% Change in Price = 20%

Therefore, answer is 0.2%

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