Answer to Question #97459 in Microeconomics for Ruth Watetu

Question #97459
The following data refer to quantity of sweets demanded by students in given school.
Price (Kshs) Quantity demanded
1 100

1.10 80

Required:
i) Calculate the price elasticity of demand considering a price increase form Ksh. 1.00 to Ksh. 1.10.
(3.5 marks)
ii) Calculate the price elasticity of demand when price decreases from Ksh. 1.10 to Ksh. 1.00. (3.5 marks)
1
Expert's answer
2019-10-29T10:03:27-0400
Dear Ruth Watetu, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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