2. A firm has just increased its price by 5 percent over last years price, and it...

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2. A firm has just increased its price by 5 percent over last year’s price, and it found that quantity sold remained the same. (LO6-1)

a. The firm comes to you and wants to know its price elasticity of demand.

b. How would you calculate it?

c. What additional information would you search for before you did your calculation?

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Microeconomics

ISBN: 9780077501808

9th Edition

Authors: David Colander

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Question Posted: Oct 15, 2024 01:00 AM

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2. A firm has just increased its price by 5 percent over last years price, and it...

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Microeconomics

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