Answer to Question #219557 in Economics for yoyo

Question #219557

If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity

i. What is the percentage change in price?

Expert's answer

"E=\\frac{Q_2-Q_1}{Q_2+Q_1}\\times \\frac{p_2+p_1}{p_2-p_1}"

"E=-1.61"

Learn more about our help with Assignments: Economics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Why many developing countries have not been able to wean themselves from being revepients of develop
2. ASSIGNMENT :Select any popular Ghanaian firm or any foreign firm that engages in international busin
3. Describe circumstances that, according to the Companies Act, will render a person ineligible or disq
4. What was the motivation for VW to expand in the US market?
5. (a) Which of the following indicators need to be log-transformed before constructing its index?
6. The business cycle shows........ 1. Phases of economic cycles as the production output of goods an
7. Unemployment tends to decrease when? A. Total production increases B. Employment decreases C. T