The xyz co sells widgets for 10 each at that price it sells


The XYZ Co. sells widgets for $10 each. At that price it sells 200 per week. When it reduces its price of a widget to $9, it sells 250 per week. Calculate the price elasticity of demand. Is it elastic, inelastic, or unitary?

Solution Preview :

Prepared by a verified Expert
Macroeconomics: The xyz co sells widgets for 10 each at that price it sells
Reference No:- TGS0667869

Now Priced at $10 (50% Discount)

Recommended (97%)

Rated (4.9/5)