Due to inflation and shortages created by supply chain shortages, the price of Paco Rabanne's Eau de Toilette Spray increased 12.5% during the Xmas 2021 season. If the price elasticity of demand for the perfume is 0.9, what will happen to sales? Show math.

Answer rating: 100% (QA)

If number is less than 1 Demand is inelastic in this stretch Price ... View the full answer