In June 2024
Answer to Question #318210 in Microeconomics for Andile Nkosi
2.a. When the price of café lattes rises from R15 to R20, the quantity demanded decreases from 2000 to 1200 café lattes per day. What is the price elasticity of demand for café lattes (using the arc formula)? (5 marks).
Arc price elasticity of demand is (1200-2000)/((1200+2000)/2)÷(20-15)/((20+15)/2)=-1.75
-
![Help me with my assignment!]()
Who Can Help Me with My Assignment
There are three certainties in this world: Death, Taxes and Homework Assignments. No matter where you study, and no matter…
-
![How to finish assignment]()
How to Finish Assignments When You Can’t
Crunch time is coming, deadlines need to be met, essays need to be submitted, and tests should be studied for.…
-
![Math Exams Study]()
How to Effectively Study for a Math Test
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
#340153 on Dec 2023
Comments
Leave a comment