Suppose Paula Flygare owns a 50-car parking lot and has two spaces unrented. You assure her that

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Suppose Paula Flygare owns a 50-car parking lot and has two spaces unrented. You assure her that if she lowers the price 10 percent, she could rent out those two spaces. She replies: “You don’t understand price elasticity of demand, do you?”

What’s her point?

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Principles Of Microeconomics

ISBN: 9781913689681

7th Edition

Authors: Fred M. Gottheil

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Question Posted: Nov 11, 2024 07:04 AM

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Suppose Paula Flygare owns a 50-car parking lot and has two spaces unrented. You assure her that

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Principles Of Microeconomics

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