Question
Consider the Gastown neighborhood of Allieland. In 2006: 44,000 scones were demanded and residents took 35 vacations to Devlin Island; the price of a scone
Consider the Gastown neighborhood of Allieland. In 2006: 44,000 scones were demanded and residents took 35 vacations to Devlin Island; the price of a scone was 93 Unobtainium Dollars and the price of a vacation to Devlin Island was 103,000 Unobtainium Dollars. In 2010, 35,000 scones where demanded and residents took 44 vacations to Devlin Island; the price of a scone was 110 Unobtainium Dollars and the price of a vacation to Devlin Island was 98,000 Unobtainium Dollars. According to this data, what is elasticity of demand for scones?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
