homeworkUse the information below and Calculate the elasticity1„Determine the type of elasticity1. If the price of T-shirt decrease from 10$ to 8$ and thisdecrease causes the Quantity demand increase by %12,what is the elasticity of demand.

Given: Initial price = 10 New price = 8 Percentage change in quantity demanded = 12%

homework Use the information below and Calculate the elasticity „Determine the type of elasticity 1. If the price of T-shirt decrease from 10S to 8S and this decrease causes the Quantity demand increase by %12, what is the elasticity of demand.

homework Use the information below and Calculate the elasticity „Determine the type of elasticity 1. If the price of T-shirt decrease from 10S to 8S and this decrease causes the Quantity demand increase by %12, what is the elasticity of demand.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 1QR

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homework
Use the information below and Calculate the elasticity
1„Determine the type of elasticity
1. If the price of T-shirt decrease from 10$ to 8$ and this
decrease causes the Quantity demand increase by %12,
what is the elasticity of demand.

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