Mathematics, 01.02.2021 15:20 hamzzaqasim44

Work out the PED for each, and comment on your result. The price of a smartphone is currently £200, and the quantity demanded is 4m. Next year the price falls to £180 and the quantity demanded rises to 6m. The price of pens today is £1, and the quantity demanded is 1m. Next year the price rises to £1.10 and the quantity demanded falls to 950,000. The price of a daily newspaper today is £1.50p, and the quantity demanded is 2m. Next year the price falls by 30p and the quantity demanded rises to 2.2m Question 2

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Work out the PED for each, and comment on your result. The price of a smartphone is currently £200,...