B. Given the elasticity you calculated, did it make sense for the supermarket to reduce its price? (6points). NOTE!!! TH

Post by **answerhappygod** » Wed Jul 06, 2022 6:33 pm

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B. Given the elasticity you calculated, did it make sense for the supermarket to reduce its price? (6points). NOTE!!! THIS IS NOT A YES OR NO ANSWER YOU MUST SHOW YOUR THAT LEADS TO YOUR DECISION CALCULATIONS I

A local supermarket had been charging $2.50 a pound for eggplant and selling 190 pounds a week. When it reduced the price to $2.00, eggplant sales rise to 200 pounds a week. A. Calculate the price elasticity of demand for eggplant. (7points) B. Given the elasticity you calculated, did it make sense for the supermarket to reduce its price? (6points). NOTE!!! THIS IS NOT A YES OR NO ANSWER YOU MUST SHOW YOUR CALCULATIONS THAT LEADS TO YOUR DECISION