Economics 9708 · AS & A Level · Price elasticity of demand

Price elasticity of demand — practice question

The diagram shows that area OP1M1Q1 has the same size as area OP2M2Q2. When the price is reduced by half, moving from P1 to P2, what is the price elasticity of demand?

A–1
B–0.5
Czero
Dinfinity

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