When Apple raised the price of iTunes from 99 to $ 1.29, GS Boyzs Stanky Legg
Question:
When Apple raised the price of iTunes from 99¢ to $ 1.29, GS Boyz’s “ Stanky Legg” sales dropped from 22,686 units to 19,692 units (Glenn Peoples, “ iTunes Price Change: Sales Down, Revenue Up in Week 1,” Billboard, April 15, 2009). What was the song’s arc elasticity of demand?
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An arc price elasticity is an elasticity that uses the average price and averag...View the full answer
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Related Book For 
Managerial Economics and Strategy
ISBN: 978-0321566447
1st edition
Authors: Jeffrey M. Perloff, James A. Brander
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