Question

the ratio of change in price ( triangle p) is 0.4 and elasticity of demand is (-) 1.50calculate the percentage change in demand
plz ans faster​

Answer 1

Explanation:

Elasticity of Demand;

Percentage change in Price;

Ed = % change Quantity ÷ % change Price;

Percentage change in quantity may be calculated from the two known values:

% change Quantity = Ed x % change Price

Answer 2

Answer:

-0.6

Explanation:

%chg. in qty demanded / % chg. in price = PED

X / 0.4 = -1.5

X =  -1.5 * 0.4

X = -0.6