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QUESTION
The price of a new computer game has demand of 3,000 units at $50 and 2,500 units at $60. Calculate the Price Elasticity of Demand rounded to two
- The price of a new computer game has demand of 3,000 units at $50 and 2,500 units at $60. Calculate the Price Elasticity of Demand rounded to two decimal places. Which statements are correct?
- If the price increases 10%, demand will increase 10%.
- The demand is unitary elastic.
- If the price increases 10%, demand will decrease 10%.
- The demand is inelastic.
- If the price decreases 10%, demand will decrease 10%.
