A price elasticity of demand of -1. 25 means that if the price increases by 1% the quantity demanded will _ by %_____

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A price elasticity of demand of -1. 25 means that if the price increases by 1% the quantity demanded will _____ by %_________

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ChrisJ · Answer 1 · 2024-11-22T11:49:43+0000

Answer: The change in quantity demanded divided by the change in price is equal to 2. D. if the price increases by 1 percent, the quantity demanded will decrease by 2 percent.

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A price elasticity of demand of -1. 25 means that if the price increases by 1% the quantity demanded will _ by %_____

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