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Consider two scenarios giving some information about price elasticity of demand. For each scenario, calculate the missing data and determine if the price change under
Consider two scenarios giving some information about price elasticity of demand. For each scenario, calculate the missing data and determine if the price change under consideration will increase, decrease, or not change the firm's total revenue. Round your answers to two decimal places. "At Betty's Burgers, the hamburgers have a price elasticity of demand equal to -4.05. Suppose the number of burgers Betty sells increases by 65% Betty's prices must have decreased Betty can expect her total revenue to increase. -16.05 ...by Incorrect Patty's Putts increased the price of a round of miniature golf by 76.0%. Patty has calculated her price elasticity of demand at -0.57. Patty can expect the number of golfers to -43.32 ...by decrease MacBook Pro % %
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