Solved: Suppose the price of product x is reduced from 175 to 135, Risk Management

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Suppose the price of product x is reduced from 175 to 135

Suppose the price of product X is reduced from $1.75 to $1.35 and, as a result, the quantity of X demanded increases from 2,000 to 2,400. Using the arc elasticity if demand (or midpoint) method, the own price elasticity of demand for X in the given price range is

-1.423.
-0.705.
-0.563.
-0.875.

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Risk Management: Suppose the price of product x is reduced from 175 to 135

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Risk Management: Suppose the price of product x is reduced from 175 to 135

Reference No:- TGS01590972

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