1 % change in quantity=(410-350)/410=0.14 % change in price=(2500-3000)/2500=-0.2 Price elasticity=0.14/-0.2= 0.7 P.E. 4 Percentage change in quantity demanded=(200-110)/200=0.45 Percentage change in price=(4000-4300)/4000=-0.075 =0.45/-0.075=6 Question 2 The best prices that give the best sales value is 4000 and 4300.

The best prices that give the best sales value is 4000 and 4300. Price elasticity is any adjustment in price can lead to a major change in

Price Elasticity of Demand: Percentage Change in Price

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