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

Principle agent problem, Principle Agent Problem [Dealing with hidden actio... Principle Agent Problem [Dealing with hidden action] Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes th

Demand Supply, Ask qIf the supply and demand curves for labor are represent... Ask qIf the supply and demand curves for labor are represented by the following equations: Wd= -- (1/100)Ld + 30 Ws= (1/200)Ls Ws=Wd Ld=Ld a. Graph the results and show the equili

Recent development of demand theory, RECENT DEVELOPMENT OF DEMAND THEORY: ... RECENT DEVELOPMENT OF DEMAND THEORY:  The basic theory of consumer behaviour discussed in the previous unit can be extended in many directions, and can be applied to cover opt

Assignment, illustrate graphically the influence of an increase in immigran... illustrate graphically the influence of an increase in immigrants on the market supply of labour

Sylos model, #questions.. #questions..

Managerical economics, Plot the demand schedule and draw the demand curve f... Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above?

The free enterprise: price system, The Free Enterprise:  Price System ... The Free Enterprise:  Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons

Fluctuations in growth rates - estimation of national income, Fluctuations ... Fluctuations in Growth Rates: Fluctuations in year-to-year growth rates in early stages were very marked, which indicated that the economy had failed to create conditions cond

#texplation diagrammatically the bain''s model of limit prici, bain''s mode... bain''s model of limit pricing with diagram

Williamson’s Model of Managerial Discretion, Williamson’s Model of Manageri... Williamson’s Model of Managerial Discretion