question archive a) Write out the formula for the price elasticity of demand
a) Write out the formula for the price elasticity of demand
Subject:EconomicsPrice:2.88 Bought3
a) Write out the formula for the price elasticity of demand. Why do we use percentage changes, rather than just unit changes?
b) With the help of a diagram(s), illustrate how total revenue (expenditure) changes as you move down a demand curve.
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