If the price of bread falls by 1 percent and the quantity demanded rises by 3 percent, then the price elasticity of demand for bread is equal to: 0.30 30 3 0.333
If the price of bread falls by 1 percent and the quantity demanded rises by 3 percent, then the price elasticity of demand for bread is equal to: 0.30 30 3 0.333
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 16SQ
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Question
If the price of bread falls by 1 percent and the quantity demanded rises by 3 percent, then the price
0.30 |
||
30 |
||
3
|
||
0.333 |
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