The price of a product changes from $8 to $9, and as a result, the quantity of
Fantastic news! We've Found the answer you've been seeking!
Question:
The price of a product changes from $8 to $9, and as a result, the quantity of the product demanded falls from 20 to 15. What do you know about the price elasticity of this good?
Related Book For
Microeconomics
ISBN: 978-1464187025
2nd edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date: