we observe a 10 percent increase in units purchase and a(n) 2 percent decrease in price. the price elasticity of demand in terms of absolute values is
Homework Answers
Absolute value of price
elasticity = % change in quantity purchased / % change in price =
10/2 = 5
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we observe a 10 percent increase in units purchase and
a(n) 2 percent decrease in price....
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