Question
There are two questions related to CH 4 Consumer Demand.If you provide some numbers to support your opinion,pleasecite the source of reference. 1.After paying$1.50,you are
There are two questions related to CH 4 Consumer Demand.If you provide some numbers to support your opinion,pleasecite the source of reference.
1.After paying$1.50,you are allowed to open a newspaper vending machine freely(i.e.get as many as you want).In contrast,a soft drink vending machine only drops one can after you pay the same amount of money.Why?Please explain the difference
2Assume that a salesman learned the price elasticity of demand for his products is 2.0.How many percents will increase in the total sales(revenue)if he cuts the price by10%?Show your calculation process.
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