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| *The Commerce Journal>>>Other - Business & Finance |
Price elasticity of demand? |
if the price of product increases from 拢5 to 拢6 & quantity demanded falls from 500 to 450 a month , PED = 10/20 = 0.5. Can somebody explain how to arrive at this figure I don't understand how to do it. PED = (% Change in Quantity Demanded)/(% Change in Price) |
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