Economics 2281 · O Level · Price elasticity of demand (PED)

Price elasticity of demand (PED) — practice question

The diagram illustrates the demand curve for rice. What is the price elasticity of demand (PED) for rice when the price rises from $\$1.0$ to $\$1.5$ per kilo?

  • A0
  • B1
  • Cless than 1
  • Dgreater than 1

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