Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 per cent increase in the price of Pepsi. The price elasticity of demand (in absclute value) is: 2 1.66. b. 6.00. © 0.60. d. 1.40. (Pz - BJ -( Pz tPi)2
Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 per cent increase in the price of Pepsi. The price elasticity of demand (in absclute value) is: 2 1.66. b. 6.00. © 0.60. d. 1.40. (Pz - BJ -( Pz tPi)2
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose that the quantity of Pepsi demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 per cent increase in the
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