Economics 0455 · IGCSE · Price elasticity of demand (PED)

Price elasticity of demand (PED) — practice question

The table gives the quantity of chocolates demanded at two different prices. What is the price elasticity of demand when the price drops from $\$0.50$ to $\$0.45$?

  • Aless than $0.5$
  • Bbetween $0.5$ and $1$
  • Cbetween $1$ and $1.5$
  • Dgreater than $1.5$

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