When price commodity falls by 80% quantity demand increases by 100% find cost price elasticity of demand
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Ed=(−)1.25 ( Demand is highly elastic as Ed>1)
Negative sign of Ed indicates the increase relationship between price and quantity demanded.
Price Elasticity of Demand (Ed)= Percentage change in Quantity demanded percentage change in price=100%−80%
price Elasticity of demand (Ed)=(−)1.25
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