Question: The following table is a demand schedule for a particular commodity, between which price range is demand elastic? Explain your answer. Hint: At least

The following table is a demand schedule for a particular commodity, between

The following table is a demand schedule for a particular commodity, between which price range is demand elastic? Explain your answer. Hint: At least three calculations, a reduction from K10 000.00 to K9 000.00, K7 000.00 to K6 000.00 and from K5 000.00 to K4 000.00. Price (K'000s 10 9 8 7 6 ONWA55 4 2 Quantity Demanded 0 10 20 30 40 50 60 70 80 90 100

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