- Consider Two Scenarios Giving Some Information About Price Elasticity Of Demand For Each Scenario Calculate The Missin 1 (86.12 KiB) Viewed 46 times
elasticity of demand. For each scenario, calculate the missing data
and determine if the price change under consideration will
increase, decrease, or not change the firm's total revenue. Round
your answers to two decimal places. At Betty's Burgers, the
hamburgers have a price elasticity of demand equal to −3.55 .
Suppose the number of burgers Betty sells increases by 85.00%.
Patty's Putts increased the price of a round of miniature golf
by 36% . Patty has calculated her price elasticity of demand
at −0.57 .
Consider two scenarios giving some information about price elasticity of demand. For each scenario, calculate the missing data and determine if the price change under consideration will increase, decrease, or not change the firm's total revenue. Round your answers to two decimal places. At Betty's Burgers, the hamburgers have a price elasticity of demand equal to -3.55. Suppose the number of burgers Betty sells increases by 85.00% Betty's prices must have decreased ...by % Betty can expect her total revenue to Patty's Putts increased the price of a round of miniature golf by 36%. Patty has calculated her price elasticity of demand at -0.57. Patty can expect the number of golfers to ...by % Patty can expect her total revenue to