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0 Do Homework - Assignment 4 - Google Chrome 0 mathxl.com/Student/PIayerllomeworkespx?homeworkld=5908131668lquestionld =16&ushed =false&cld=6347318¢erwin=yes 5 | 02/14/213:01 PM ECON 2010: Microeconomic Theory 1 (Winter 2021) Homework: Assignment 4 Score: 0 of 1 pt 4 15 of 20 (12 complete)v ) HW Score: 53.47%, 10.69 of 20 pts Exercise 12 Question Help 7 - You run a small business and would like to predict what will happen to the quantity demanded for your product if you raise your price. While you do not know the exact demand curve for your product, you do know that in the first year you charged $44 and sold 1,316 units and that in the second year you charged $38 and sold 1,834 units. If you plan to lower your price by 10 percen ,what would be a reasonable estimate of what will happen to quantity demanded in percentage terms? Incorporate the point elasticity of demand using the initial price and quantity in your answer. The quantity demanded will V by percent. (Enter your response rounded to two decimal places.) Enter your answer in the answer box and then click Check Answer. Pa\" - remaining ClearAll CheckAnswer ' { }