Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to
97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The
price elasticity of demand is…….
97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The
price elasticity of demand is…….
The formula =>
Ed = %∆Q / %∆P
= % (6000 / 97000) / 10%
= 6,18% / 10%
= 0,618 % (Inelastis)
Good Luck! :D