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ceymorebucks24 ceymorebucks24
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A year ago
Suppose the quantity of lemonade demanded falls from 103 000 litres per week to 97 000 litres per week as a result of a 10% increase in its price. The price elasticity of demand for lemonade is therefore

▸ 1.03.

▸ 6.0.

▸ 1.97.

▸ 0.6.

▸ impossible to compute unless we know the before and after prices.
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Microeconomics

Microeconomics


Edition: 17th
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johnmiltonjohnmilton
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