What does it mean to say that price elasticity of demand is 1.22?

Question:

What does it mean to say that price elasticity of demand is 1.22?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

Question Posted: