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We observe a 20 percent increase in units purchased and an 8 percent decrease in price. The price elasticity of demand in terms of absolute value is a) 2.5 b) -2.5 c) 0.4 d)1.0
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We observe a 20 percent increase in units purchased and an 8 percent decrease in price. The price elasticity of demand in terms of absolute value is

a) 2.5
b) -2.5
c) 0.4
d)1.0

User Dreampuf
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Answer:

the correct answer

a) 2.5

User Ruben Steins
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