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The Tesla Restaurant had an average dinner check of $8.75 during May, when 3,000 patrons were served. The owner increased the dinner menu prices
The Tesla Restaurant had an average dinner check of $8.75 during May, when 3,000 patrons were served. The owner increased the dinner menu prices to $9.25 per item. In June, the restaurant served 2,900 guests. What is the price elasticity of demand for the Tesla Restaurant? Based on the calculation, what type of demand is it?
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
