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Price Elasticity but only given % revenue increase and % price increase

label Economics
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schedule 0 Hours
account_balance_wallet $5

10% increase in price, 7% increase revenue.  What is own price elasticity?

Jul 18th, 2014

Own Price Elasticity = 7%/10%

HENCE

Own Price Elasticity = 0.7 or 70%

Jul 18th, 2014

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Jul 18th, 2014
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Jul 18th, 2014
Jun 25th, 2017
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