Montresor Fortunato's PED for amontillado (a pale dry sherry) is known to be 1.78 when price is measured in dollars and quantity is measured in bottles (32 oz.). What is his PED for this product if price is measured in cents and quantity in ounces?

Montresor Fortunato's PED for amontillado (a pale dry sherry) is known to be 1.78 when price is measured in dollars and quantity is measured in bottles (32 oz.). What is his PED for this product if price is measured in cents and quantity in ounces?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Montresor Fortunato's PED for amontillado (a pale
dry sherry) is known to be 1.78 when price is
measured in dollars and quantity is measured in
bottles (32 oz.). What is his PED for this product if
price is measured in cents and quantity in ounces?

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