Question
Currently, an outpatient clinic charges $50 for every patient visit and averages 1000 visits per day. If the clinic raises the price-per-visit to $75, the
Currently, an outpatient clinic charges $50 for every patient visit and averages 1000 visits per day. If the clinic raises the price-per-visit to $75, the clinic will average 780 visits per day. What would the price elasticity of demand for this clinic be?
- A.-0.44
- B.2.78
- C.-0.80
- D.-2.27
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
