Cecilia sells bangus for PHP 100.00 and her Qd1 =500. When she decides to sell it for PHP 12, her Qd2 becomes 450. At what price should Cecilia sell her bangus to get a bigger revenue, PHP 100 or PHP 125? Is Qd elastic or inelastic? Give the value of the Price Elasticity of Demand and interpret.
Cecilia sells bangus for PHP 100.00 and her Qd1 =500. When she decides to sell it for PHP 12, her Qd2 becomes 450. At what price should Cecilia sell her bangus to get a bigger revenue, PHP 100 or PHP 125? Is Qd elastic or inelastic? Give the value of the Price Elasticity of Demand and interpret.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Cecilia sells bangus for PHP 100.00 and her Qd1 =500. When she decides to sell it for PHP 12, her Qd2 becomes 450. At what
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