Basti regularly buys 15 slices pizza monthly given a price of 100 pesos per slice. When the price of pizza increased by 10%, he now prefers to buy 50 slices. Compute for the price elasticity of pizza. Interpret your answer

Basti regularly buys 15 slices pizza monthly given a price of 100 pesos per slice. When the price of pizza increased by 10%, he now prefers to buy 50 slices. Compute for the price elasticity of pizza. Interpret your answer

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 16SQ

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