Suppose that a store will sell 2000 boxes of bananas a week, Business Economics

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Suppose that a store will sell 2000 boxes of bananas a week

Suppose that a store will sell 2000 boxes of bananas a week at a price of $12 per box. If the store raises its prices to $15 per box, it will sell 1500 boxes.

1) What is the elasticity using the original formula?

2) What is the elasticity using the midpoint formula?

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Business Economics: Suppose that a store will sell 2000 boxes of bananas a week

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Business Economics: Suppose that a store will sell 2000 boxes of bananas a week

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