At a price of $27.50 to play 18 holes on local golf courses, 1,200 consumers pay to play a game of golf each day. A rise in the price to $32.50 causes the number of consumers to decline to 800. What is the price elasticity of demand? Is demand elastic, unit-elastic, or inelastic?
At a price of $27.50 to play 18 holes on local golf courses, 1,200 consumers pay to play a game of golf each day. A rise in the price to $32.50 causes the number of consumers to decline to 800. What is the price elasticity of demand? Is demand elastic, unit-elastic, or inelastic?
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Related Book For 
