Question
If a firm begins selling its product for $80, then raises its price to $85, and because of this price increase its sales decrease from
If a firm begins selling its product for $80, then raises its price to $85, and because of this price increase its sales decrease from 100 units to 95 units, what is its price elasticity of demand?
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
