HourlongNine342
29.11.2019 •
Mathematics
The price of cookies was increased from $4 to $5, the quantity demanded by stores went down 50%, what is price elasticity of demand?
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Ответ:
The demanded quantity by the stores now:
0.5x
The previous cost is: $4 * 0.5x = $2x
The cost of demanded quantity by the stores now: $5 * 0.5x = $2.5x
The price elasticity of demand: $2.5x - $2x = $0.5x
Hope that helps you
Ответ: