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

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1.2. 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. What is 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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Economics

ISBN: 9781259193156

10th Edition

Authors: David Colander

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Question Posted: Oct 16, 2024 02:01 AM

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

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Economics

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