Answer to Question #312300 in Accounting for Adhu

Question #312300

Demand contracts from 500 to 400 when price rises from $40 to $42

Expert's answer

"PED= \\frac{\\Delta Q}{\\Delta P}\u00d7\\frac {P}{Q}"

"= \\frac{(400-500)}{(42-40)}\u00d7\\frac {P}{Q}"

"= \\frac{-100}{2}\u00d7\\frac {40}{500}= -4"

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