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Lauren1 Lauren1
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Posts: 4120
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9 years ago
A fall in the price of cabbage from $10.50 to $9.50 per bushel increases the quantity demanded from 18,800 to 21,200 bushels. The price elasticity of demand is
A) 0.80.
B) 1.20.
C) 1.25.
D) 8.00.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
Anonymous
wrote...
#4
7 months ago
Help! The answer is missing an explanation...
wrote...
#5
7 months ago


18800+18800r = 21200
(21200 - 18800) / 18800 = r
r = 0.127659

10.50 - 10.50r = 9.50
(9.50 - 10.50) / -10.50 = r
r = 0.95238

0.127659 / 0.95238 = 1.34

Weird... Not getting it either
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