Answer to Question #215237 in Economics for TM MALEAKA

Question #215237

Price of beef fell by 50% , the quantity demanded rose by 100% the demand for beef will thus be?

Expert's answer

"\\varDelta p=0.5"

"\\varDelta Q=2"

"E=\\frac{\\varDelta p}{\\varDelta Q}=0.25"

demand is inelastic

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