Problemin a local hardware store the price of the store, Ask an Expert

Economics

Problem

In a local hardware store, the price of the store brand indoor house paint is $18 per gallon. The daily volume of sales is 30 gallons. The price elasticity of demand for the paint is estimated to be -3. Determine the demand equation for the paint assuming that it is linear.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92745566

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