Question
1.A direct price discriminator sells the same cologne under two different labels. The (absolute value of) the price elasticity of demand for High Class is
1.A direct price discriminator sells the same cologne under two different labels.
The (absolute value of) the price elasticity of demand for "High Class" is 2. The (absolute value of) the price elasticity of demand for "Splash-This-Stuff-On" is 5.
Which one of the following statements is true?
oThe price of "High Class" will be 2/5 times the price of "Splash-This-Stuff-On".
oThe price of "High Class" will be 8/5 times the price of "Splash-This-Stuff-On".
oThe price of "High Class" will be 5/2 times the price of "Splash-This-Stuff-On".
oThe price of "High Class" will be 5/8 times the price of "Splash-This-Stuff-On".
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The Commanding Heights The Battle For The World Economy
Authors: Daniel Yergin, Joseph Stanislaw
1st Edition
068483569X, 9780684835693
