Question

If the quantity demanded decreases by %15 and the price goes from 1.25 to 1.75 what...

If the quantity demanded decreases by %15 and the price goes from 1.25 to 1.75 what is the elasticity of demand? Is it elastic or inelastic?

If the price goes down by 20% and the quantity sold increases from 80 to 120 units what is the elasticity of demand? Is it elastic or inelastic?

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