Dwell time, t, is the time in minutes that shoppers spend in a store. Sales, s, is

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Dwell time, t, is the time in minutes that shoppers spend in a store. Sales, s, is the number of dollars they spend in the store. The elasticity of sales with respect to dwell time is 1.3. Explain what this means in simple language.

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Dwell time, t, is the time in minutes that shoppers spend in a store. Sales, s, is

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Applied Calculus

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