Question
Andrew runs an Ice Cream shop at Unionville during the summer and in July he noticed that he sales were 3000 units so he decided
Andrew runs an Ice Cream shop at Unionville during the summer and in July he noticed that he sales were 3000 units so he decided to reduce the price of his ice creams by 20% in August. In August sales went up to 4500 units. What is the Price Elasticity at the new price?
- -2.5
- 25%
- 2.5
- -25
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Managerial Economics
Authors: Mark Hirschey
14th edition
9781473709263, 1473709261, 1473717343, 1473717345, 978-1305506381
