The price of a good is raised by 15%. As a result, the sales of the good dropped by 22%. Assume there has never been any surplus in the market. Find the price elasticity of demand of that good. Show your calculation correct to 2 decimal places.
Thanks! 解答如詳盡及正確便可獲選!!
Economics Elasticity of Demand
2007-01-11 10:11 pm
回答 (1)
2007-01-14 8:53 am
✔ 最佳答案
ed= (change in q/ q) / (change in p/ p)in ur case
ed= -22%/ 15%
ed= │-6.67│
ed= 6.67
2007-01-14 00:58:09 補充：
never been any SHORTAGE = (S=D)...
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