5. Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Arc Price Elasticity of demand at SkateNation. a) EQp = -0.90 b) EQp = -1.11 c) EQp = 0.90 1.11 d) EQp =

5. Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Arc Price Elasticity of demand at SkateNation. a) EQp = -0.90 b) EQp = -1.11 c) EQp = 0.90 1.11 d) EQp =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Am. 112.