econ 201 question help ?
A local Krispy Kreme doughnut shop reduced its prices by 10 percent, and as a result, the quantity of doughnuts sold increased by 25 percent.Over this range, the absolute value of the price elasticity of demand was
- OiyLv 64 weeks ago
It should be 2.5 in absolute terms. But it is the normal demand curve with negative slop.