Question
Compute and explain the price elasticity of demand when price decreases from RMS.50 to RM4.50. Determine the type of elasticity. (5 marks) b) Compute and
Compute and explain the price elasticity of demand when price decreases from
RMS.50 to RM4.50. Determine the type of elasticity.
(5 marks)
b) Compute and explain the price elasticity of supply when price increases from
RIMO.50 to RM4.50. Determine the type of elasticity.
(5 marks)
c Compute the cross elasticity of demand between good A and B when price decreases from $3.50 to $1.50. Determine the type of product.
(4 marks)
d Compute the income elasticity of demand for good A when income increases from
RM400 to RM880. Determine the type of product.
(4 marks)
Compute and explain the price elasticity of demand when price decreases from
RMS.50 to RM4.50. Determine the type of elasticity.
(5 marks)
b) Compute and explain the price elasticity of supply when price increases from
RIMO.50 to RM4.50. Determine the type of elasticity.
(5 marks)
c Compute the cross elasticity of demand between good A and B when price decreases from $3.50 to $1.50. Determine the type of product.
(4 marks)
d Compute the income elasticity of demand for good A when income increases from
RM400 to RM880. Determine the type of product.
(4 marks)
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