You want to estimate the price elasticity of demand for pizza at the restaurant you manage. In August, you charged on average $9.99 per pizza and sold 812 pizzas. In September, you charged $10.99 per pizza and sold 731 pizzas. You believe that no other factors influenced the demand for your pizza between August and September. What is your elasticity estimate? Typed numeric answer will be automatically saved.
You want to estimate the price elasticity of demand for pizza at the restaurant you manage. In August, you charged on average $9.99 per pizza and sold 812 pizzas. In September, you charged $10.99 per pizza and sold 731 pizzas. You believe that no other factors influenced the demand for your pizza between August and September. What is your elasticity estimate? Typed numeric answer will be automatically saved.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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