Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Chapter 3, Problem 2E

The price elasticity of demand for personal computers is estimated to be 2.2 . If the price of personal computers declines by 20 percent, what will be the expected percentage increase in the quantity of computers sold?

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