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The owner of Christie's Bookstore is looking into the sales of its Health & Fitness magazine section. She finds that her equilibrium is at 1,000
The owner of Christie's Bookstore is looking into the sales of its Health & Fitness magazine section. She finds that her equilibrium is at 1,000 magazines per month sold at an average price of $4.25 per magazine. When the price of these Health & Fitness magazines rose to $4.95 each, the quantity sold fell to 900 magazines per month, while the quantity supplied to her increased to 1,250 a month.
Give examples of three real and specific changes could affect the elasticity of demand for Health & Fitness magazines.
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