Calculate your price elasticity of demand of apples, Business Economics

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Calculate your price elasticity of demand of apples

Elasticity vs inelasticity

Elasticity = (% Change in Quantity)/(% Change in Price)

Suppose the price of apples rises from $3 a pound to $3.45 and your consumption of apples drops from 30 pounds of apples a month to 21 pounds of apples. Calculate your price elasticity of demand of apples.

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Business Economics: Calculate your price elasticity of demand of apples

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Business Economics: Calculate your price elasticity of demand of apples

Reference No:- TGS026272

Have a Question? (oR Write a Review)

Recent Questions Asked Business Economics

Q : Would you have problems in getting the data in real world

Q : Describe the term survival of the fittest

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Q : What is the own price elasticity for atm fees charged

Q : Calculate your price elasticity of demand of apples

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Request for Solution File

Ask an Expert for Answer!!

Business Economics: Calculate your price elasticity of demand of apples

Reference No:- TGS026272

Recent Questions Asked Business Economics

Q : Would you have problems in getting the data in real world

Q : Describe the term survival of the fittest

Q : Discuss the merits of the various recommendations

Q : What is the own price elasticity for atm fees charged

Q : Calculate your price elasticity of demand of apples

Q : Discuss protection from fluctuating fuel costs by hedging

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Q : How to find the total revenue function

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