A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100 units of the good at the price of7 20 per unit. At what price will the consumer buy 200 units of the good?

A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100 units of the good at the price of7 20 per unit. At what price will the consumer buy 200 units of the good?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section: Chapter Questions

Problem 4WNG: The quantity supplied of a good rises from 120 to 140 as price rises from 4 to 5.50. What is the...

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A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer
buys 100 units of the good at the price of7 20 per unit. At what price will the consumer
buy 200 units of the good?

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