Sappose that when the price of Frablees increases by 37 , the counticy demanded of trisbees decreases by 57 . What is the price elasticy demand tor thisbees? Indode a negative sign if applicable and round your answer to two decimal piaces.

To find the price elasticity of demand for trisbees, you use the formula: Price Elasticity of Demand (PED) = (% Change in Quantity Demanded) / (% Change in Price) First, calculate the percentage change in quantity demanded and the percentage change in price. The percentage change in quantity demanded is (−57 / Original Quantity) × 100%, and the percentage change in price is (37 / Original Price) × 100%. Plug these values into the PED formula to find the elasticity. If the quantity of trisbees initially demanded was 100 (hypothetical), then the PED becomes (-57 / 100) / (37 / 100) = -1.54 when rounded to two decimal places. So, the price elasticity of demand for trisbees is -1.54, indicating that demand is elastic; consumers are quite responsive to price changes!