If an 11 per cent increase in the price of Kellogg's cereal causes a 12 per cent reduction in the number of boxes of cerealdemanded, what is the price elasticity of demand for Kellogg's cereal? nothing (Enter a numeric response using a real number rounded to two decimal places.)

The demand for Kellogg's cereal unit elastic, inelastic or elastic?

Answer rating: 100% (QA)

To calculate the price elasticity of demand we can use the formula Price El... View the full answer