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

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

Utility-expenditure duality, Utility-Expenditure Duality: Consider the... Utility-Expenditure Duality: Consider the minimisation of the  expenditures necessary to achieve a specified utility level. The solution for qi yields the compensated demand f

What is Economic Entity Assumption , The accountants keep all the business ... The accountants keep all the business transactions and records of a sole proprietorship separate from the business owner''s personal transactions and For legal purposes a sole prop

Classical model explanation for involuntary unemployment, What is the class... What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi

What is Oxidation Number, Definition of oxidation number... Oxidation numb... Definition of oxidation number... Oxidation number is a charge of central atom appears to keep if all of the ligands are removed along with the electron pairs which are shared wit

Production possibiltiy curve, what does production possibilty curve means? what does production possibilty curve means?

Price mechanism, discuss the term of price mechanism,give examples to elabo... discuss the term of price mechanism,give examples to elaborate the concept clearly

Economies of scale, what are the limitations of economies of scale? what are the limitations of economies of scale?

Global Competition, The distinction between supply and the quantity supplie... The distinction between supply and the quantity supplied is best made by saying that

What is laffer curve, What is Laffer curve The Laffer curve is named af... What is Laffer curve The Laffer curve is named after Professor Art Laffer who suggested that as taxes enhanced from fairly low levels, tax revenue received by the government wo