Time remaining:
Price Elasticity but only given % revenue increase and % price increase

Economics
Tutor: None Selected Time limit: 0 Hours

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
Mar 23rd, 2017
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