The price of an iphone 12 is initially £1250 at which 3.8 million phones are sold. A year later the price of an iphone 12 is £950 at which 5.5 million phones are sold. What is the price elasticity of demand? a) -1.86 b) -0.54 c) -6.03 d) -1.90

change in the demand of cold drinks from 700 units to 1000 units because of the fall in the price from Rs 15 to Rs 10. Calculate the price elasticity of cold drinks

When the local pizza parlor prices pizzas at $12 each, it generally sells 7000 pizzas per month. If it lowers the price to $10, sales increase to 9000 pizzas per month. Given this information, we know that the price elasticity of demand for pizza is about 1.38, and an increase in price from $10 to $12 results in a decrease in total revenue. 0.72, and an increase in price from $10 to $12 results in an increase in total revenue. 0.72, and an increase in price from $10 to $12 results in a decrease in total revenue. 1.38, and an increase in price from $10 to $12 results in an increase in total revenue.

Q3B) From the table below find price elasticity of demand and write down demand curve? (When the price increase from $2 to $3)   Px Qdx 2 $ 16 4 $ 10