[Solved] If the price of vegetable sandwich rises from `6 per piece to `12 per piece as a result of which the daily sales decreases from 800 to 400 pieces per day. The price elasticity of demand can be estimated as

Q.	If the price of vegetable sandwich rises from `6 per piece to `12 per piece as a result of which the daily sales decreases from 800 to 400 pieces per day. The price elasticity of demand can be estimated as
A.	0.5
B.	1.5
C.	3.0
D.	2.5
Answer» A. 0.5

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Fundamentals of Economics and Management

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