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The market system

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Question 42

Elena sells hand-knitted woollen scarves online. She recently reduced the price she charges by 5.5%, and the quantity demanded increased by 7.3%.

Calculate, to two decimal places, the price elasticity of demand (PED) for Elena's scarves. You are advised to show your working.

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The market system Questions

  1. IGCSE
  2. /Economics
  3. /The market system