Answer to Question #80868 in Economics for cho

Question #80868
The price elasticity for the product of your company on the market is Ep = -0.8.
You are selling the product for $10 per unit.
1
Expert's answer
2018-09-14T09:57:09-0400
The price elasticity for the product of your company on the market is Ep = -0.8.
If you are selling the product for $10 per unit, then any change in price will cause the same change in quantity, but multiplied by 0.8.

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Assignment Expert
17.09.18, 20:41

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Cho
14.09.18, 20:39

Appreciate it, thanks

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