What is the calculation for E= Question is : Adam makes specialized garden figurines in a small shop on his property , and his monthly total sales revenue is $630.00 when he charges $18.00 for each figurine . one month , he tried lowering his price to $17.00 , and his total revenue that month was $646.00 . On the basis of these data , what is the proce elasticity of demand for adams product ? Please show what formula you use and steps to calculate so i can know how thank you.
What is the calculation for E= Question is : Adam makes specialized garden figurines in a small shop on his property , and his monthly total sales revenue is $630.00 when he charges $18.00 for each figurine . one month , he tried lowering his price to $17.00 , and his total revenue that month was $646.00 . On the basis of these data , what is the proce elasticity of demand for adams product ? Please show what formula you use and steps to calculate so i can know how thank you.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is the calculation for E=
Question is : Adam makes specialized garden figurines in a small shop on his property , and his monthly total sales revenue is $630.00 when he charges $18.00 for each figurine . one month , he tried lowering his
Please show what formula you use and steps to calculate so i can know how thank you.
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