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Please review the image below Suppose that you are a staff economist with an economic consulting rm. The operator of a local harbour has commissioned

Please review the image below

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Suppose that you are a staff economist with an economic consulting rm. The operator of a local harbour has commissioned your rm to do a market analysis of the demand for berths (parking spaces) for boats. Your firm finds that the price elasticity of demand for berths is -2.25. You've just completed your study of elasticities and are asked to make a recommendation based on this information. If the price of a berth in the area increases by 6%, the quantity of berths that people demand will 7 by %

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