If the elasticity of demand is 5, and the price of a cup of coffee is $2,
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If the elasticity of demand is 5, and the price of a cup of coffee is $2, how much would the seller need to reduce her price in order to increase the quantity sold by 50 percent?
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To calculate the change in price needed to increase the quantity sold by 50 percent we can use the f...View the full answer
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