Economics · Oct / Nov 2017 · Paper 13 · Question 6
2281Price elasticity of demand (PED)
The table illustrates the demand and supply for coffee in a market in Africa. When the price rises from $20 to $30 per kg, what is the price elasticity of demand for coffee?
- A0.2
- B0.5
- C2.0
- D5.0
As printed in the paper
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Correct answer: B. 0.5
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