The correct answer is known as "The Law Enforcement Services".
Law Enforcement Services is the system of the society wherein its members act in a organized and well-trained manners, wherein they enforce the law by investigating, stopping and changing or may also lead to punishing the individuals who violates or break the rules and norms laid out by the government for the betterment of the society.
Answer:
$7.5
Greater
Explanation:
Price elasticity of demand = percentage change in quantity demanded/ percentage change in price
0.2 = 10%/ percentage change in price
percentage change in quantity demanded = 50% = 0.5
0.5 = (New price - $5) / $5
New price = (5 × 0.5) + 5 = $7.5
In the short run, demand is relatively inelastic because consumers need time to find suitable substitutes but in the long run, demand is usually more elastic.
I hope my answer helps you
