Economics · Oct / Nov 2024 · Paper 12 · Question 8
2281Price elasticity of demand (PED)
When the price of shirts rises from $8 to $10, the demand for shirts falls from 1000 to 500. What is the value of the price elasticity of demand for shirts?
- Agreater than 1
- Bunitary
- Cless than 1
- Dzero
As printed in the paper
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Correct answer: A. greater than 1
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