Answered: At a price of $10 quantity demanded is…

At a price of $10 quantity demanded is 30 units while at a price of $12, quantity demanded is 24 units. What is the price elasticity of demand?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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At a price of $10 quantity demanded is 30 units while at a price of $12, quantity
demanded is 24 units. What is the price elasticity of demand?

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