Lawnlech sells its laser hedge trimmer at a price of $275, and estimates price elasticity of demand at -3.9 at this price. LawnTech is thinking about raising its price by +4.0%. By what percent will Quantity sold change, given this change in price? Report your answer as a percent. Report 25.5%, for example, as "25.5". Remember to report the sign of the change. Rounding: tenth of a percent. Your Answer: Answer
Lawnlech sells its laser hedge trimmer at a price of $275, and estimates price elasticity of demand at -3.9 at this price. LawnTech is thinking about raising its price by +4.0%. By what percent will Quantity sold change, given this change in price? Report your answer as a percent. Report 25.5%, for example, as "25.5". Remember to report the sign of the change. Rounding: tenth of a percent. Your Answer: Answer
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![LawnTech sells its laser hedge trimmer at a price of $275, and estimates price
elasticity of demand at -3.9 at this price. LawnTech is thinking about raising its price
by +4.0%. By what percent will Quantity sold change, given this change in price?
Report your answer as a percent. Report 25.5%, for example, as "25.5". Remember to
report the sign of the change. Rounding: tenth of a percent.
Your Answer:
Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05ee4d57-e1af-430d-939a-a78c85f24ed0%2F8eee106e-d37a-4154-8621-d39dfa683d08%2Fsw8mrh4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:LawnTech sells its laser hedge trimmer at a price of $275, and estimates price
elasticity of demand at -3.9 at this price. LawnTech is thinking about raising its price
by +4.0%. By what percent will Quantity sold change, given this change in price?
Report your answer as a percent. Report 25.5%, for example, as "25.5". Remember to
report the sign of the change. Rounding: tenth of a percent.
Your Answer:
Answer
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