Question

the price elasticity of demand is 5.0 if a 10 percent increase in the price result in a -------- decrease in the quantity demanded​

Answer 1

Answer:

good afternoon to all

Explanation:

my name is yash

Answer 2

The price elasticity of demand is 5.0 if a 10 percent increase in the price result in a 50% decrease in the quantity demanded​.

$e_{p}$ = percentage change in quantity demanded/ percentage change in price

therefore,

$e_{p}$ = percentage change in the quantity demanded/10

5 =percentage change in the quantity demanded/10

50% = percentage change in the quantity demanded