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When the price of a certain commodity increases from $300 to $500, its demand has changed from 60 to 40. What's the price elasticity of
When the price of a certain commodity increases from $300 to $500, its demand has changed from 60 to 40.
What's the price elasticity of demand for this commodity?
- A. 1
- B. -1
- C. 2
- D. -2
- E. 1/2
- F. -1/2
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Essentials of Econometrics
Authors: Damodar Gujarati, Dawn Porter
4th edition
73375845, 978-0071276078, 71276076, 978-0073375847
