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Notes
PED = %ΔQd ⁄ %ΔP
Price elasticity of demand
Economics · Unit 1.1
Price Elasticity of Demand
Notes · Flashcards · Quiz
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Flashcard · 4 of 12
Define: elastic demand
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Quiz · Q3
A price rise from £8.00 to £9.60 cuts weekly demand by 15%. Is this elastic or inelastic?
Inelastic
Elastic
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