Rogers purchased 60 tins of paracetamol at shs. 12,500 each from Abacus Pharma. Two months later the cost of a paracetamol tin increased by 35% and Tom Purchased 25 tins of paracetamol. Illustrate the above information on a graph. Calculate the price elasticity of demand and interpret your result (9 marks). Mention the demand and supply shifters of healthcare services other than price .
Rogers purchased 60 tins of paracetamol at shs. 12,500 each from Abacus Pharma. Two months later the cost of a paracetamol tin increased by 35% and Tom Purchased 25 tins of paracetamol. Illustrate the above information on a graph. Calculate the price elasticity of demand and interpret your result (9 marks). Mention the demand and supply shifters of healthcare services other than price .
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Rogers purchased 60 tins of paracetamol at shs. 12,500 each from Abacus Pharma. Two months later the cost of a paracetamol tin increased by 35% and Tom Purchased 25 tins of paracetamol. Illustrate the above information on a graph.
Calculate the
Mention the demand and supply shifters of healthcare services other than price .
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