Question
Suppose the price of apples increased from $2.00 to $3.00 per kg. As a result, the quantity demanded for apples decreased from 5000kg to 4000kg.
Suppose the price of apples increased from $2.00 to $3.00 per kg. As a result, the quantity demanded for apples decreased from 5000kg to 4000kg. What is the price elasticity of demand for apples?
-1000
-1
-0.5
-0.4
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Essentials Of Business Law
Authors: Jeffrey F Beatty, Susan S Samuelson
3rd Edition
0324537123, 9780324537123
