Question
A producer knows that the price elasticity for his product is-0.5. He wants to increase quantity demanded by 30 percent. By what percentage does he
A producer knows that the price elasticity for his product is-0.5. He wants to increase quantity demanded by 30 percent. By what percentage does he need to change the price?
a.-6 percent
b.10 percent
c.-9.5 percent
d.-60 percent
e.6 percent
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Using R For Econometrics
Authors: Florian Heiss
1st Edition
1523285133, 9781523285136
