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

Price elasticity of demand — practice question

From the diagram, the area of OP1M1Q1 is the same as the area of OP2M2Q2. If the price is reduced by half from P1 to P2, what is the value of the price elasticity of demand?

A–1
B–0.5
Czero
Dinfinity

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