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a) Explain why we normally report the elasticity of demand as a positive number, can it not be a negative number also? b)If you have
- a) Explain why we normally report the elasticity of demand as a positive number, can it not be a negative number also?
- b)If you have a price reduction of 10%, and this leads to a quantity increase from 100.000 units to 105.000 units, what is the elasticity of demand?
- c)Explain in detail what you would advise the company in b) to do so and why.
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Accounting A Pathway Into The World Of Business And Data Analytics
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
29th Edition
0357899644, 9780357899649
