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1 year ago

Please answer the following questions:

Business

1 answer:

Oduvanchick [21]1 year ago

4 0

The price elasticity of the loan taken by the entrepreneur comes out to be 10.

<h3>What is the price elasticity of demand?</h3>

The price elasticity of demand is an indicator used to determine the sensitivity of demanded quantity with respect to its corresponding price.

Given values:

Change in quantity demanded: 50%

Change in price: 5%

Computation of price elasticity of demand:

$\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{\rm\ Change \rm\ in \rm\ quantity \rm\ demanded}{\rm\ Change \rm\ in \rm\ price} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{50\%}{5\%} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=10$

Therefore, when the change in quantity demanded is 50% with the change in the price is 5%, then the price elasticity of a business loan is equal to 10.

Learn more about the price elasticity in the related link:

brainly.com/question/10610673

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