Assume that a shoe salesman learned the price elasticity of demand for her products is -1.5. How many percent will increase in total sales (revenue) if she cuts the price by 10%?

Posted Date: 2/15/2013 1:26:22 PM | Location : United States

Ask an Expert

Related Discussions:- Elasticity of Demand , Assignment Help, Ask Question on Elasticity of Demand , Get Answer, Expert's Help, Elasticity of Demand Discussions

Write discussion on Elasticity of Demand
Your posts are moderated

Write your message here..

Related Questions

What is gini coefficient, Q. What is Gini Coefficient? Gini Coefficient... Q. What is Gini Coefficient? Gini Coefficient: A statistical measure of inequality. A Gini score of 0 signifies perfect equality (in which each individual receives the same inc

#proposed merger between heinz and beech-nut scrutinized, Who are the compe... Who are the competitors in the jarred baby food market? What market share do they have? How do Heinz and Beech-Nut compete with one another? Are the barriers to entry high or low f

Demand Forecasting, what is demand forecasting and defines its techniques what is demand forecasting and defines its techniques

Survey methods, Survey Methods: The most direct method of forecasting dema... Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the

What is a prisoners dilemma, 1. Ayanna grows herbs. Last year she grew 2,00... 1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl

Consider an upstream firm in russia that mines iron, Consider an upstream f... Consider an upstream firm in Russia that mines iron ore at a total cost of $15 q , where q is the number of tons of ore. This upstream firm then ships ore to Germany for processi

Types of taxes, Taxes: Compulsory government levies collected to pay for pu... Taxes: Compulsory government levies collected to pay for public spending. There are numerous types of taxes (corporate, income, wealth, sales, environmentaland payroll taxes); each

Banks, Banks: A company which accepts deposits and issues new loans. It mak... Banks: A company which accepts deposits and issues new loans. It makes profit by charging more interest for loans than it pays on deposits, and through several service charges. By

Consumer surplus, What is consumer surplus? What is its significance and wh... What is consumer surplus? What is its significance and what causes it to change?

State about the prices - price level, State about the prices - Price level ... State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i