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inna [77]
3 years ago
10

Determine the price elasticity of demand if, in response to an increase in price of 10 percent, quantity demanded decreases by 2

0 percent.
Business
1 answer:
valkas [14]3 years ago
8 0
<span>The price elasticity of demand would be -2. When you divide the change in quantity demanded (-20%) by the change in price (10%), as is required to obtain the price elasticity of demand, you get this result.</span>
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