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    jasmine1403's Avatar
    jasmine1403 Posts: 2, Reputation: 1
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    #1

    Dec 26, 2008, 09:23 AM
    Elasticity
    When 10 percent change in the price of good brings about a 20 percent change in its quantity demanded the price elasticity of demand is... we can say that demand for this good is...
    tolga5096's Avatar
    tolga5096 Posts: 4, Reputation: 1
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    #2

    Nov 13, 2010, 02:09 PM
    percentage change in quantity demanded is divided by percentage change in price =20/10=2

    it is elastic because e=2 is greater than 1
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