Last month, an appliance store sold 82 refrigerators at $779 each. This month, the floor manager has estimated that the store can sell 90 refrigerators if the price is lowered to $739 per unit. Calculate the price elasticity of demand for refrigerators. [ 4.2.1 Computing the Price Elasticity of Demand A) 1.77 B) 0.57 C) 0.20 D) 1.90

Last month, an appliance store sold 82 refrigerators at $779 each. This month, the floor manager has estimated that the store can sell 90 refrigerators if the price is lowered to $739 per unit. Calculate the price elasticity of demand for refrigerators. [ 4.2.1 Computing the Price Elasticity of Demand A) 1.77 B) 0.57 C) 0.20 D) 1.90

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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