. The price of guided tour holidays to India increased by 10% in 2017and the quantity
demanded fell by 4%. Which is true?
A. The price elasticity of demand is 0.4 and elastic
B. The price elasticity of demand is 0.4 and inelastic
C. The price elasticity of demand is 2.5 and elastic
D. The price elasticity of demand is 2.5 and inelastic
Answers
Answered by
1
Answer:
Option D
The price elasticity of demand is 2.5 and inelastic.
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Options d is the correct answer.
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