Answer
46%
Work Step by Step
$\Delta\ qty=\Delta\ price\times E_d$
$60=\Delta\ price\times1.3$
$60\div1.3=\Delta\ price\times1.3\div1.3$
$46=\Delta\ price$
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 5 - Elasticity: A Measure of Responsiveness - Exercises - 5.2 Using Price Elasticity - Page 121: 2.9
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