A) 0.5
B) 1
C) 2
D) 10
For Explanation Click Here:
Price elasticity of demand (PED) is calculated using the formula:
The elasticity is 2 (ignoring the negative sign, as elasticity is typically expressed as an absolute value).
A) 0.5
B) 1
C) 2
D) 10
Price elasticity of demand (PED) is calculated using the formula:
The elasticity is 2 (ignoring the negative sign, as elasticity is typically expressed as an absolute value).