Question: Price is : Quantity Demanded R 1 : 100 R2 : 80 R3 :60 R4 :40 R5 20 The table above shows the demand schedule

Price is : Quantity Demanded

R 1 : 100

R2 : 80

R3 :60

R4 :40

R5 20

The table above shows the demand schedule for ice cream cones. What is the price elasticity of demand when the price changes from R4 per ice cream cone to R5 per ice cream cone? (Use the formula for arc elasticity.)

[1] 0,33

[2] 1,00

[3] 1,15

[4] 3,00

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