Question #326982

When the price of a good increased by 50 percent, quantity demanded decreased by 100 percent. What is the absolute value of the price elasticity of demand?

1
Expert's answer
2022-04-11T12:09:42-0400

PED=−10050=−2.PED=\frac{-100}{50}=-2.


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Canada #334539 on Jan 2023