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Suppose that a Country Club is considering what price to charge for its senior citizens. They know that if they charge a price of $75
Suppose that a Country Club is considering what price to charge for its senior citizens. They know that if they charge a price of $75 then 100 senior citizens will join and if they charge a price of $85 then 80 senior citizens will join. What is the absolute value of the price elasticity of demand for senior citizens at this Country Club?
(Provide answer to the 2nddecimal point)
This implies that golf is(elastic/unit elastic/inelastic) for senior citizens at this Country Club.
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