If the price of a cake rises from Rs.12 toRs.20 and as a result of which the daily sale decreases from 300 to200 pieces.The price elasticity of demand can be estimated as?
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Answered by
12
Answer:
(-)0.5
Explanation:
Price Quantity
12 300
20 200
Ed=((change in quantity)/(change in price))*((original price)/(original quantity))
Ed=(100/8)*(12/300)
Ed=1/2
Ed=(-)0.5
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Answered by
0
Answer:
Rs.12 toRs.20 and as a result of which the daily sale decreases from 300 to200 pieces.
Explanation:
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