If percentage change in price is 5% and percentage change in demand is -15%, then elasticity is .

-1

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-3

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-5

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-10

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Solution

The correct option is B -3
Elasticity is measured as the percentage change in demand divided by percentage change in price. So, here, elasticity is -15%/5% = (-) 3.

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If percentage change in price is 5% and percentage change in demand is -15%, then elasticity is .

The correct option is B -3Elasticity is measured as the percentage change in demand divided by percentage change in price. So, here, elasticity is -15%/5% = (-) 3.

The correct option is B -3
Elasticity is measured as the percentage change in demand divided by percentage change in price. So, here, elasticity is -15%/5% = (-) 3.