P. Terry's decides to drop the price of their lemonade from $4 to $3. The company sees that sales of lemonade increase from 600 to 900 per month. Calculate the price elasticity of demand using the midpoint method. (If the number is negative, include a minus sign. If you choose to use one of your three skips, leave the answer blank)

P. Terry's decides to drop the price of their lemonade from $4 to $3. The company sees that sales of lemonade increase from 600 to 900 per month. Calculate the price elasticity of demand using the midpoint method. (If the number is negative, include a minus sign. If you choose to use one of your three skips, leave the answer blank)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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