Determine the price elasticity of demand if in response to, Ask an Expert

Economics

Determine the price elasticity of demand if, in response to an increase in price of 25 percent, quantity demanded decreases by 55 percent.

Instructions: Enter your response rounded to one decimal place.

Price elasticity of demand: ________

Is demand elastic or inelastic?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92000076

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