% Change in Price % Change in Quantity Elasticity
Demand in Soda
at a movie theatre +10% -2% ______
Coffee ______ 10% -.4
Gas Station 20% _____ -2.0
Determine how a 10% increase in price in soda at a movie theatre, coffee, and one local gas station will affect the total revenue collected from the price increase. Show your work.
This question was asked on Jan 27, 2013 and answered on Jan 28, 2013.
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