Question

the price elasticity of good is ,-0.8 and demand for the good rises 20% find the fall in price​

Answer 1

Answer:

25 % is the fall in

the price of good

solution

ed = - Change in demand/ change in price

-0.8 = 20 / X

x = 20 /-0.8

x = -25%

hope it helps

Answer 2

Answer:

25%

Explanation:

by Ed formula

-0.8=20/percentage change in price

percentage change in price=20/-0.8

=25%