Compute the price elasticity of demand when price changes, Ask an Expert

Economics

Price per pair 100 80 60 40 20
Quantity demanded(in pairs) 10 14 18 22 26

(a) Compute the price elasticity of demand when price changes from $100 to $80 per pair using the average formular.

(b) If prices can only be quoted in multiples of $10, what price should be charged per pair to miximize revenue?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9277863

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