A firm is charging $10 per gallon a bag, it sells aprox 1 million bags per month.
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Question:
A firm is charging $10 per gallon a bag, it sells aprox 1 million bags per month. The firm has estimated that its price elasticity of demand at current prices is approx -2
- The firm is increasing the price from $1 to $9. How many bags per month will it sell at the new price?
Related Book For
Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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