Assume the price elasticity of demand is – 0.5.

Posted on 2014-03-25 12:25:00 in Economics by TURE OGRA

Consumers purchase 1,500 units of a commodity at a price of $ 5 per unit. How many units of that commodity would they purchase if the price falls to $ 3 per unit? Assume the price elasticity of demand is – 0.5.

---

Answer Comment

No Answers Posted Yet.