Question

the demand for product "x" in 2015 was 30,000 per unit and its price was p50. after a year, its demand increased from 40,000 per unit while its price decreased by p48. compute for arc elasticity...​

Answer 1

Answer:

We have defined price elasticity of demand as the responsiveness of the quantity demanded to a change in the price. We also explained that price elasticity is defined as the percent change in quantity demanded divided by the percent change in price. In this section, you will get some practice computing the price elasticity of demand using the midpoint method.

Explanation:

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Answer 2

Answer:

Hope it's correct thank you

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