If the retailer in problem 1 can sell 400 printers at $155, what is the price elasticity

Question:

If the retailer in problem 1 can sell 400 printers at $155, what is the price elasticity of demand (expressed as a positive number) between the prices of $175 and $155?

a. 0.48
b. 1.83
c. 2.44
d. 3.05


Data from problems 1

A retailer can sell 100 printers per month at a price of $200 each or 275 printers per month at a price of $175 each. What is the elasticity of demand (expressed as a positive number)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Retail Management A Strategic Approach

ISBN: 9780133796841

13th Edition

Authors: Barry Berman, Joel Evans, Patrali Chatterjee

Question Posted: