Question #69616

When a price rises from $3 to $5, what is the price elasticity of demand?

Expert's answer

Answer on Question #69616, Economics / Microeconomics

When a price rises from $3 to $5, what is the price elasticity of demand?

Answer:

The price elasticity of demand = 0 demand is perfectly inelastic - demand does not change at all when the price changes



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