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

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Jul 18th, 2014
...
Jul 18th, 2014
Dec 5th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer