Page 1 of 1
A product sells 120 A product sells 120 units at a price of $65 each. When price is reduced to $50 each, sales go up to
Posted: Wed May 04, 2022 8:06 am
by answerhappygod
- A Product Sells 120 A Product Sells 120 Units At A Price Of 65 Each When Price Is Reduced To 50 Each Sales Go Up To 1 (15.26 KiB) Viewed 23 times
A product sells 120 A product sells 120 units at a price of $65 each. When price is reduced to $50 each, sales go up to 135. Recalling the concept of Price Elasticity of Demand, (see formula sheet), here...... O PED equals 0.5417 and demand is inelastic O PED equals 1.00 and demand is unitary O PED equals 1.8462 and demand is elastic O PED equals 0.5417 and demand is elastic O PED equals 1.8462 and demand is inelastic a