Suppose Paula Flygare owns a 50-car parking lot and has two spaces unrented. You assure her that

Question:

Suppose Paula Flygare owns a 50-car parking lot and has two spaces unrented. You assure her that if she lowers the price 10 percent, she could rent out those two spaces. She replies: "You don't understand price elasticity of demand, do you?" What's her point?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: