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The price elasticity of demand for pork is about 0.60. Your goals is to decrease quantity demanded for pork by 12% as you see a possible shortage in the future. What might you suggest to achieve this goal

Respuesta :

In order to reduce quantity demanded by 12%, the price of the good should be increased by 20%.

What is the price elasticity of demand?

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in price  = percentage change in quantity demanded / price elasticity of demand

12% / 0.6 = 20%

To learn more about price elasticity of demand, please check: https://brainly.com/question/18850846

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