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Sagot :
There a decrease in the quantity demanded by 40%
Given here , the price elasticity demand is 4%.
We have to calculate quality demanded by formula,
Price elasticity of demand =%change in quantity demanded/ % change in price.
= 10×40 =40%
Thus, if the price elasticity demand increases by 10%, then quantity demanded have decreased by 40% because they are inversely proportional to each other.
The quantity that consumers desire is determined by the price of an item or service in a market. When non-price elements are taken out of the equation, it follows that higher prices lead to lower quantities demanded and lower prices lead to higher quantities demanded.
In economics, the word "quantity demanded" refers to the overall amount of an item or service that consumers demand over a specific period of time. Regardless of whether a market is in equilibrium, it is dependent on the cost of an item or service.
To learn more about quantity demanded , refer this link.
https://brainly.com/question/1245771
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