Question
Because costs went up, Diego's Sneakers raised prices by 10%. Sales, which were running at 150 a week, dropped to 135. The price elasticity of
Because costs went up, Diego's Sneakers raised prices by 10%. Sales, which were running at 150 a week, dropped to 135. The price elasticity of the sneakers is:
| A. | -1.25 | |
| B. | -1.5 | |
| C. | -1.0 | |
| D. | -0.8 |
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Microeconomics
Authors: Robert S. Pindyck, Daniel L. Rubinfeld
7th edition
8131725995, 8131725993, 978-8131725993
