Show solutions to each problem: Write your answer on yellow paper and upload it. Write legibly and in an orderly manner, and box your final answer. Properly scan your answer and upload it. Thank you 1) The South Beach Cafe recently reduced appetizer prices from $12 to $10 for afternoon "early bird" customers and enjoyed a resulting increase in sales from 90 to 150 orders per day. Beverage sales also increased from 300 to 600 units per day. A. Calculate the arc price elasticity of demand for appetizers. B. Calculate the arc cross-price elasticity of demand between beverage sales and appetizer prices.

Show solutions to each problem: Write your answer on yellow paper and upload it. Write legibly and in an orderly manner, and box your final answer. Properly scan your answer and upload it. Thank you 1) The South Beach Cafe recently reduced appetizer prices from $12 to $10 for afternoon "early bird" customers and enjoyed a resulting increase in sales from 90 to 150 orders per day. Beverage sales also increased from 300 to 600 units per day. A. Calculate the arc price elasticity of demand for appetizers. B. Calculate the arc cross-price elasticity of demand between beverage sales and appetizer prices.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer all as they are subparts and get like don't upload any graph. Hand written solutions are strictly prohibited.