If the price of a pizza rises from 250 to 300, and quantity demanded falls from 10,000 to 7,400, using the formula for arc price elasticity (5 marks) a. What is the percentage change in price b. what is the percentage change in quantity c. What is the price elasticity of demand? d. What will be the interpretation of the result e. What are the determinant factors for the price elasticity of demand for the pizza?

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If the price of a pizza rises from 250 to 300, and quantity demanded falls from 10,000 to
7,400, using the formula for arc price elasticity (5 marks)
a. What is the percentage change in price
b. what is the percentage change in quantity
c. What is the price elasticity of demand?
d. What will be the interpretation of the result
e. What are the determinant factors for the price elasticity of demand for the pizza?

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