q24- Suppose that at the original price of $200, 40 TVs were sold every week and that when the price rose to $210, quantity demanded fell to 30 TVs. What is the percentage change in price of TVs at the original price? Select one: a. 105 per cent b. 5 per cent c. 50 per cent d. 95 per cent

q24- Suppose that at the original price of $200, 40 TVs were sold every week and that when the price rose to $210, quantity demanded fell to 30 TVs. What is the percentage change in price of TVs at the original price? Select one: a. 105 per cent b. 5 per cent c. 50 per cent d. 95 per cent

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2.5P: (Determinants of Price Elasticity) Would the price elasticity of demand for electricity be more...

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Question

q24-

Suppose that at the original price of $200, 40 TVs were sold every week and that when the price rose to $210, quantity demanded fell to 30 TVs. What is the percentage change in price of TVs at the original price?

Select one:

105 per cent

5 per cent

50 per cent

95 per cent

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