1. The price of a good is $1.20 per unit and annual demand is 800,000 units. Market research indicates that an increase in price of 10 cents per unit will result in a fall in annual demand of 75,000 units. What is the price elasticity of demand between prices of $1.20 and $1.30 per unit? (3 Pts)

Answer rating: 100% (QA)

lets solve this stepbystep Given Initial price 120 per unit Initial demand 800000 units Increase in ... View the full answer