Question: Question 6 (1 -3 sentences + calculations per section) You sell owers at the local farmer's market. Originally you sell your owers for $8 a

 Question 6 (1 -3 sentences + calculations per section) You sell

Question 6 (1 -3 sentences + calculations per section) You sell owers at the local farmer's market. Originally you sell your owers for $8 a bunch and you sell 87 bunches of flowers per market. You trial selling your flowers for $12 each and notice you sell 63 bunches of flowers per market. a. Use the mid-point formula to calculate the % change in the price of flower bunches. b. Use the mid-point formula to calculate the % change in the bunches of flowers sold. 0. Use a and b to determine the price elasticity of demand for selling bunches of flowers at the local farmer's market. ls demand inelastic or elastic

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!