lectur16-page13 - the opposite direction What would a 20...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
13 Since we know that an Ed = - 1.6 means that a 1 % change in price results in a 1.6% change in quantity demanded in
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: the opposite direction, What would a 20% increase in price result in?...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online