Question

Price elasticity of demand of a good is -0.75. calculate the percentage change in its price that will result in 150 % rise in its demand

Answer 1

Answer:

price elasticity of demand is equal to percentage change in quantity demand divided by percentage change in price

plasticity plasticity of demand is equal to -.75

percentage change in demand is equal to 50%

therefore percentage change in quantity demanded will be. -0.75× 50

=-3.75%

please mark it brainliest

Answer 2

Answer:

Refer to the Attachment Dear

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