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3 years ago

PLEASE HELP !!!!!

Mathematics

1 answer:

Anastaziya [24]3 years ago

8 0

Answer:

-10%

Step-by-step explanation:

price elasticity of demand = % change in demand / % change in price

Here, the "price" changes from 15 to 45, so its percent change is ...

((new value)/(old value) -1) × 100%

= (45/15 -1) × 100%

= 200%

The % change in demand is given as -20%, so the price elasticity is ...

price elasticity of demand = (-20%)/(200%) = -0.10 = -10%

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