Question: please explain it thank you Part a) Suppose that when the price of salt is $1 per kg, buyers would purchase 20kg per year. But

please explain it thank you

Part a) Suppose that when the price of salt is $1 per kg, buyers would purchase 20kg per year. But when the price falls to $0.9, the quantity demanded rises to 21kg per year. Q1-a i) What is the price elasticity of demand for salt at the original price? (3 marks) ii) How would you interpret this demand elasticity? (2 marks) Save

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