Price elasticity

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If a 11% increase in price of cheerious causes a 27% reduction in the number of boxes of cereal demanded, the price elasticity of demand for cheerious is? is it elastic, inelastic or unit-elastic 

 

 

If a 16% increase in price of cheerious causes a 12% reduction in the number of boxes of cereal demanded, the price elasticity of demand for cheerious is? is it elastic, inelastic or unit-elastic 

 

 

    • 9 years ago
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