Price Elasticity
Price rises from $10 to $15, and the quantity demanded falls from 100 units to 60 units. What is the coefficient of the price elasticity of demand between the two prices?
A) 1.25
B) 0.80
C) 0.60
D) 1.00
https://brainmass.com/economics/demand-supply/determining-coefficient-price-elasticity-10800
Solution Preview
Answer: A.
The change in price is $5.00.
The change in demand is 40.
The average price is ($10.00 + $15.00)/2 = ...
Solution Summary
This solution calculates the price elasticity of demand for a product.
$2.19