Define price elasticity of demand by given that a decrease in price from $300 to $200 per orange result in an increase in quantity demanded from 80 to 120 oranges? Thus, calculate the price elasticty of demand?
Define price elasticity of demand by given that a decrease in price from $300 to $200 per orange result in an increase in quantity demanded from 80 to 120 oranges? Thus, calculate the price elasticty of demand?