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McDonalds Corporation has conducted the same study in its newly opened restaurant in Amsterdam. The results show that the daily demand for 20 oz Coca-Cola
- McDonalds Corporation has conducted the same study in its newly opened restaurant in Amsterdam. The results show that the daily demand for 20 oz Coca-Cola is 2100 bottles at 1 per bottle in Amsterdam. The demand drops to 1500 bottles at $1.1 per bottle. Calculate the slope of the price-response function and the price elasticity and comment on the obtained values.
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Microeconomics
Authors: Glenn Hubbard, Anthony O'Brien
7th Edition
0134737504, 978-0134737508
