Answer to Question #73816 in Microeconomics for charmaine

Question #73816
Decrease in price from R50 to R40 causes quantity demands to increase from 2500 to 3000.using sex elasticity of demand ,the price elasticity of demand is
1
Expert's answer
2018-02-22T09:05:08-0500
1) PED = (% change in quantity demanded) / (% change in price) =
= ((3000-2500)/2500) / ((40-50)/50) = -1

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