Q. 95.0( 1 Vote )

a. Arrange the fo

Answer :

Price elasticity of demand is the measure of the responsiveness of demand after a change in the goods’ own price.

The coefficient of price elasticity =% change in quantity demanded/% change in price

Therefore, -0.3,-0.7,-0.8,-1.1


Measurement of Price Elasticity of Demand= percentage change in Quantity demanded/percentage change in price

=(100-50)18/(18-13) 50=3.6

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