A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from

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A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from 25,000 to 10,000 units. Calculate the price elasticity of demand.

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Economics Principles and Policy

ISBN: 978-0538453653

12th edition

Authors: William J. Baumol, Alan S. Blinder

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Question Posted: Apr 12, 2016 07:12 AM

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A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from

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To conclude I can say that using the formula in ...View the full answer

Economics Principles and Policy

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