Decide whether demand for paint is elastic-inelastic


Supoose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint dros from 35 gallon a month to 20 galloons a month. Compute the price elasticity of demand for paint and show your calculations. Decide whether the demand for paint is elastic, unitary elastic, or inelastiv. Explain your rresults.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Decide whether demand for paint is elastic-inelastic
Reference No:- TGS072964

Expected delivery within 24 Hours