- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Question:
The current selling price of X has raised from $1 to $1.50, annual demand will drop from 100,000 units to 90,000 units.
The price elasticity of demand is mentioned as 0.2 in solution.
Please explain how 0.2 is the asnwer.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.