Find price elasticity of demand measuring responsiveness, Microeconomics

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Find price elasticity of demand measuring responsiveness

The price of good is $1.20 per unit and annual demand is 800,000 units. Market research indicates that an increase in price of 10 cents per unit will result in a fall in annual demand of 75,000 units. What is the price elasticity of demand measuring the responsiveness of demand over this range of price increase?

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Microeconomics: Find price elasticity of demand measuring responsiveness

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Microeconomics: Find price elasticity of demand measuring responsiveness

Reference No:- TGS051043

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find price elasticity of demand measuring responsiveness

Reference No:- TGS051043

Recent Questions Asked Microeconomics

Q : Explain what fitzgerald achieved by using nick''s view point

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Q : What effect would the ira contribution have

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Q : Find price elasticity of demand measuring responsiveness

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