Economics · May / June 2020 · Paper 12 · Question 7
2281Price elasticity of demand (PED)
The price of bread rose by 5% and the quantity demanded fell by 4%. What was the price elasticity of demand for bread?
- A–0.4
- B–0.8
- C–1.25
- D–2.0
As printed in the paper
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Correct answer: B. –0.8
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