Answer:The answer would be inclusive.
sorry it took me a while. Hope this helps!
It’s means the average. Combine all numbers then divide by the total numbers you have.
Answer:
0.62
Step-by-step explanation:
Think of the answer like it's money. If I have 0.62 cents and everyone else has a total of 6 dollars, I would have the smallest amount of money.
Hope this helps :D
Answer: The price elasticity of the demand for skateboards = 0.6.
Step-by-step explanation:
Since we have given that
Original price of skate boards = $200
Quantity of skate board = 10
New price of skate boards = $300
Quantity of skate board = 7
Since we know that "Price of commodity is inversely related to quantity demanded."
So, price elasticity of demand is given by

Hence, the price elasticity of the demand for skateboards = 0.6.