If the price of demand is 1.5 and price decreases by10%,then quantity demanded?
If the price elasticity of demand is 1.5 and price decreases by 10%, then quantity demanded will increase by 10×1.5 = 15%.
Need a fast expert's response?
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!
Comments
Leave a comment