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Suppose that on a typical day, a restaurant owner usually sells 18 club sandwiches. However, after lowering the price of a club sandwich from $6.75
Suppose that on a typical day, a restaurant owner usually sells 18 club sandwiches.
However, afterloweringthe price of a club sandwich from $6.75 to $5.95, the owner discovered that salesincreasedto 23 sandwiches per day.
Based on this information, the restaurant owner calculated that the demand elasticity for club sandwiches was approximately:
Group of answer choices:
-0.05
-0.52
-1.94
-20.2
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