This question is based on the following table which shows the demand schedule for ice cream cones.

What is the price elasticity of demand when the price changes from R2 per ice cream cone to R3 per ice cream cone? Use the formula for arc elasticity. (Ignore the negative sign and round off to 2 decimal places.)

If the owners of Ster Kinekor movie theatres discounted the price of admission fees by 30 per cent, average attendance would rise by 50 per cent. Based on this data, it could be concluded that the price elasticity of demand for movie tickets is

The admissions policy of Makopani University of Technology is to admit any student who is willing to pay the university's tuition fees. To increase its total revenue, the board of the university decides to reduce tuition fees. They

Which one of the following statements with regards to price elasticity is correct?

This question is based on the following information which indicates the demand for airline tickets between Johannesburg and Cape Town for business travellers and holiday travellers.

Using the midpoint method, calculate the price elasticity for business travellers and holiday travellers if the price increases from R1 700 to R3 000. The price elasticity of business travellers is

If a 5 per cent fall in the price of bananas results in a 2 per cent increase in the quantity of bananas demanded, then the price elasticity of the demand for bananas is relatively low.