a) Calculate the price clasticity of demand when p = 3. Write a sentence explaining what this means in terms of the demand and the price. b) Find the range of prices for which demand is inelastic (assume p<0) c) Find the price that would maximize your revenue.

Q: If the demand for product x is inelastic , a 4% increase in the price of x will..?

A: Price elasticity of demand refers to the changes in the quantity demanded due to change in the price…

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A:

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Q: Suppose a Palestinian company (Siniora Food Industries Company) sells 20,000 units when the price is…

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A: PED= [(Q2−Q1)/(Q2+Q1)/2] / [(P2−P1)÷(P2+P1)/2]  PED = Price elasticity of demand = 1  P1 = Initial…

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A: * SOLUTION :-  * The price range of $8-$6 is the demand inelastic. *Explanation :-

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A: The following problem has been answered as follows

Q: The price elasticity of demand is a measure of the extent to which the quantity demanded of a good…

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Q: If demand is inelastic, a change in the price

A: To find : What will be change in price if demand is inelastic

Q: . Contraction of demand is the result of

A: To find : Which results in contraction of demand.

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A: Elasticity of demand(ed) tells us the (%) proportionate change in the Qd(quantity demanded) attached…

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A:

Q: he smaller the price elasticity of demand, the Select one: a.more strongly buyers respond to a…

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