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Consider the graph below and advise your business partner whether it is a good idea to decrease the price from point A to point C

Consider the graph below and advise your business partner whether it is a good idea to decrease the price from point A to point C (based on arc elasticity calculation). Show all your calculations.

The graph below provides detail on the quantity demanded of a particular product at various price levels.

Notice prices on the left R160, R140, R120 and 100 are are prices in rand (South African currency)

P 1500,160 R160 A 2000,140 R140 R120 3000,100 R100 C

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