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28 Sep 2019
If the price of good X decreases by 2.1% and the price elasticity of demand is 0.4, find the percentage change in quantity demanded and the percentage change in revenue. If you want to increase revenue should you increase or decrease the price in this case?
If the price of good X decreases by 2.1% and the price elasticity of demand is 0.4, find the percentage change in quantity demanded and the percentage change in revenue. If you want to increase revenue should you increase or decrease the price in this case?
1
answer
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watching
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Joshua StredderLv10
28 Sep 2019