ary is a merchandiser manager of shampoo a known grocery store. Upon doing the inventory, she notice that when the price of a particular brand of shampc increased from P100 to P120; the the demand for another product has increased from 5000 to 5500. Calculate the Elasticity What type of elasticity is that Explain the meaning and implication computed
ary is a merchandiser manager of shampoo a known grocery store. Upon doing the inventory, she notice that when the price of a particular brand of shampc increased from P100 to P120; the the demand for another product has increased from 5000 to 5500. Calculate the Elasticity What type of elasticity is that Explain the meaning and implication computed
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Group 4
Mary is a merchandiser manager of shamp0o a known
grocery store. Upon doing the inventory, she noticed
that when the price of a particular brand of shampoo
increased from P100 to P120; the the demand for
another product has increased from 5000 to 5500.
a. Calculate the Elasticity
b. What type of elasticity is that
C. Explain the meaning and implication computed
elasticity.
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