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Savatey [412]
2 years ago
11

When the price of fresh fish increases 5%, quantity demanded decreases 10%. The price elasticity of demand for fresh fish is.

SAT
1 answer:
vlada-n [284]2 years ago
5 0

If the price increases 5% and the quantity demanded decreases 10% the product is inelastic.

<h3>What is price elasticity?</h3>

Price elasticity occurs if the demand for a product varies when the product increases/decreases its price.

<h3>How is price elasticity in the product described?</h3>

A product is classified as inelastic if the demand does not change or only changes slightly when there is a change in the price.

This occurs with fish because 5% is a very low percentage and this shows the demand is not changing because the price increased.

Learn more about price in: brainly.com/question/18117910

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The distance in miles from P to Q is 12 miles

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