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vodka [1.7K]
2 years ago
12

PLEASE HELP !!!!!

Mathematics
1 answer:
Anastaziya [24]2 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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