If a 10 percent increase in the price of a good leads to a 25 percent decrease in the quantity demanded of the good, demand is

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01-01-2021
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If a 10 percent increase in the price of a good leads to a 25 percent decrease in the quantity demanded of the good, demand is

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Mymy16kute16idn Mymy16kute16idn · Answer 1 · 2021-01-08T08:57:11-05:00

Mymy16kute16idn Mymy16kute16idn

08-01-2021

Answer: 23

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Andromacheidn Andromacheidn · Answer 2 · 2021-09-07T13:11:57-04:00

In the case when there is a 10% increase in the price of the good that results in the decrease in the quantity demanded to 25% so the demand should be inelastic.

Given that,

The price of the good is increased by 10%.
The quantity demanded is reduced to a 25%

Now the elasticity should be

= -25% ÷ 10%

= -2.5%

Therefore we can conclude that when there is a 10% increase in the price of the good that results in the decrease in the quantity demanded to 25% so the demand should be inelastic.

Learn more about the inelastic here: brainly.com/question/13572905

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