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Step-wise answer to Price Elasticity

A problem do to study for....

Suppose the own price elasticity of market demand for retail gasoline is -0.9 and Rothschild Index is 0.6 and a typical gasoline retailer enjoys sales of $1.2 Million annually. What is the price elasticity of demand of a representative gasoline retailer's product?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M926084

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