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# AS Economics - I can't remember the method to this question... Watch

1. (feel free to recategorise)

Hi.

Can someone show me what one would do to find the answer on this question please?

Thank you.
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2. Edit: Duh, wrong way round. It's been a long day of essay writing.

% change in demand / % change in price
3. (Original post by Potally_Tissed)
% change in price / % change in demand
I know that part, but how exactly would I use it in this situation?
4. Hey I did this question today, I believe the answer's D

Demand falls by 10%

Price increases by 14/10 = 40%

-10/40 = -0.25
5. (Original post by dnumberwang)
Hey I did this question today, I believe the answer's D

Demand falls by 10%

Price increases by 14/10 = 40%

-10/40 = -0.25
Ah, excellent. Thank you very much!
6. (Original post by dnumberwang)
Hey I did this question today, I believe the answer's D

Demand falls by 10%

Price increases by 14/10 = 40%

-10/40 = -0.25
This.
7. (Original post by Mr Inquisitive)
I know that part, but how exactly would I use it in this situation?
Ignore that one, I got price and demand the wrong way around. Re-read my post.

Demand falls by 10%, you're given that in the question, so -10%.
Price increases from 10 to 14, so a change of +40%.

PED = -10/+40 = -0.25

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