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Suppose demand for water filter in the US is given by Q= 5,000,000 - 100,000P, and that the current price for a filter is $25.
Suppose demand for water filter in the US is given by Q= 5,000,000 - 100,000P, and that the current price for a filter is $25. Compute the price elasticity of demand at the current price.
- Don't I need another price to compare elasticity because it is the % change in quantity/% change in price?
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The Vanishing American Corporation Navigating The Hazards Of A New Economy
Authors: Jerry Davis, Gerald F Davis
1st Edition
1626562792, 9781626562790
