REECEJHONGUINANGGO REECEJHONGUINANGGO

Economics

Answered

if the price of canned good in the grocery store increases by 8% and the quantity demanded decrease by 12% what is price elasticity of demand? Is it inelastic or unitary elastic?

Sagot :

JOSHUADAMGEGO JOSHUADAMGEGO

Answer:

equals 6 u minus it and thats the answer

Explanation:

-12%/8% = -.12/.08= -1.5 (drop the negative sign, so the elasticity is 1.5) INTERPRETATION: ELASTIC

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