Suppose HTC sells 8000 smartphones in Taiwan per week at a price of $250.Due to competition,HTC reduces the price to $225 and subsequently notices that demand for its smartphone increases to 8640 units in the following week.Calculate the price elasticity of demand for HTC smartphones
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Expert's answer
2020-12-04T09:31:22-0500
The price elasticity of demand for HTC smartphones is:
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