(Answered) Elasticity of approximately

Management Studies

Question: AT&T Wireless estimates that demand for its service has an elasticity of approximately -1.5. In2011, 54 million customers generated revenues of approximately $37.5 billion at an effectiveprice of about 10 cents per minute. What would you expect revenues to be at a price of 8 cents?9 cents? 11 cents? Provide justifications and citations for your responses.

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