Asked by Setumbo

1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? (10)
2.is a price increase the correct decision to raise revenue?substantiate your answer using the price elasticity of demand and income elasticity of demand concepts? (30)
3.using examples explain how demand,price elasticity,and total revenue are all related to each other.explain this relationship using at least two examples that incorporates all three concepts? (30)
4.evaluate the various factors that affect the price elasticity of demand?justify your answer (30)
Answered by Shaun
All of them


Answered by science
plants
Answered by emmanuel
The answer of number one is 1.25
Answered by Anonymous
(Q2-Q1\Q2+Q1)\(P2-P1\P2+P1)
Answered by Confidence
25000-100000÷100000×100=75000÷100000×100=75%.45-25÷25×100=15÷25×100=1500÷25=60%.75÷60=5÷4=1,25
Answered by puleng
Then number of substitute availabe.the proportion of income that is spent on goods.
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