Jack in the Box recently estimated own-price elasticity of demand for large drinks to be -1.2. What percent decrease in unit sales of large drinks will result from a 1% increase in the price of large drinks? [Enter only a positive number. If the answer cannot be determined with this information, enter 99 as your answer]

Jack in the Box recently estimated own-price elasticity of demand for large drinks to be -1.2. What percent decrease in unit sales of large drinks will result from a 1% increase in the price of large drinks? [Enter only a positive number. If the answer cannot be determined with this information, enter 99 as your answer]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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