QUESTION 4 a. Assume an increase in price fro $3.55 leads to a fall in quantity from 25 to 12 units. Calculate : the value
QUESTION 4 a. Assume an increase in price fro $3.55 leads to a fall in quantity from 25 to 12 units. Calculate : the value of the price elasticity of demand b. Applying your understanding of price of elasticity of demand, define and explain in detail how different elasticity values will impact your pricing policies
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