Answer:
£d = 0.37 [Inelastic]
Explanation:
%∆Qd
%∆P
%∆Qd:
40 - 30
40 + 30 x 100
2
10
70 x 100
35 x 100
%∆Qd = 28.57
90 - 40
90 + 40 x 100
50
130 x 100
65 x 100
%∆P = 76.92
28.57
76.92
= 0.37
°° Hope this helps!
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Answers & Comments
Answer:
£d = 0.37 [Inelastic]
Explanation:
%∆Qd
%∆P
%∆Qd:
40 - 30
40 + 30 x 100
2
10
70 x 100
2
10
35 x 100
%∆Qd = 28.57
%∆P
90 - 40
90 + 40 x 100
2
50
130 x 100
2
50
65 x 100
%∆P = 76.92
28.57
76.92
= 0.37
°° Hope this helps!