The price of hot dogs changed from six dollars to seven dollars per case. At the...

The price of hot dogs changed from six dollars to seven dollars per case. At the same time, quantity demanded changed from sixty cases to fifty cases.

a) Calculate the elasticity coefficient (5 points)

b) Calculate the total revenue for each price change and explain implications (5 points)

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Expert Solution

Rahul Sunny answered 1 year ago

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