ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the price elasticity of demand (PED) for a product for which a 10% price rise reduces sales volume by 5%?
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-0.5
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-2.0
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-0.2
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-5.0
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Explanation:
Detailed explanation-1: -1) What is the price elasticity of demand (PED) for a product for which a 10% price rise reduces sales volume by 5% ? A)-2.0.
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