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Mumz [18]
1 year ago
6

f the price of orange juice rises 10%, and as a result the quantity demanded falls by 8%, the price elasticity of demand for ora

nge juice is
Business
1 answer:
shusha [124]1 year ago
4 0

If the quantity demanded falls by 8%, the price elasticity of demand for orange juice is inelastic.

<h3>Price elasticity of demand</h3>

Using this formula

Price Elasticity of demand = Percentage change in demand/percentage change in price

Let plug in in the formula

Price Elasticity of demand=-0.08/0.10

Price Elasticity of demand=-0.8 (inelastic)

Therefore if the quantity demanded falls by 8%, the price elasticity of demand for orange juice is inelastic.

Learn more about  Price elasticity of demand here:brainly.com/question/5078326

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