Business, 13.11.2020 04:40 shinekamui

Hi. I need help with these : If at $8 per bag ,20 bags of rice were demanded and when the price fell to $36 per bag,30 bags were demanded.
I. What is the coefficient of the elasticity of demand ?
II. What type of elasticity of demand is this ?
III. Explain your answer in question II.

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