Question
A local dog grooming outlet is changing its price for a complete pet wash and groom from $13 to $16, and the number of customers
A local dog grooming outlet is changing its price for a complete pet wash and groom from $13 to $16, and the number of customers per day decreases from 50 to 40.
What is the price elasticity of demand for this service?
Is this relatively elastic or inelastic?
Will total revenue increase or decrease and by how much?
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
