lindsayevans5242004 lindsayevans5242004

12-10-2022
Business

Answered

If consumers purchase 30 units of a good when price is $4 and demand decreases to
50 when price rises to $6, the price elasticity of demand means
If price increases 1% demand will decrease by 0.8% and demand is inelastic.
If price increases 1% demand will decrease by 1.25% and demand is elastic.
If price increases $1 demand will decrease by .8 units and demand is inelastic.
If price increases $1 demand will decrease by 1.25 units and demand is elastic.

Answer :

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