Answered: A change in price of $10 from initial…

A change in price of $10 from initial price of $15 leads to a change in quantity demanded of 100 from the initial quantity of 60. Find the demand elasticity for this commodity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A change in price of $10 from initial price of $15 leads to a change in quantity demanded of 100 from the initial quantity of 60.

Find the demand elasticity for this commodity.

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