Answered: The price elasticity of good x is 3.96,…

The price elasticity of good x is 3.96, the percentage change in price is 11.5, what is the percentage change in quantity demanded? a. -7.54 b. 0.34 c. 2.90 d. 45.54

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The price elasticity of good x is 3.96, the percentage change in price is 11.5, what is the percentage change in quantity demanded?

-7.54

0.34

2.90

45.54

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