Assume that the price of one kilogram of chicken is 12 Shekel. Assume that Ramadan comes, and the demand for chicken increases by 40%. Assume that the elasticity of demand for chicken is 0.6 and the elasticity of supply is 1.4. the percentage change in equilibrium price is: -15% 0.15%. 20%. 30%

Principles of Microeconomics
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Chapter5: Elastic And Its Application
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i will 10 upvotes urgent . Assume that the price of one kilogram of chicken is 12 Shekel. Assume that Ramadan comes, and the demand for chicken increases by 40%. Assume that the elasticity of demand for chicken is 0.6 and the elasticity of supply is 1.4. the percentage change in equilibrium price is: -15% 0.15%. 20%. 30%
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