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What is the coefficient of elasticity for product

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Reference no: EM132907620

A Company lowers its price for a certain product by 6% and has an increase of 15% in revenue from the product.

Problem 1: What is the Coefficient of Elasticity for this product. What, if anything, is difficult about this question? Even without calculating the Coefficient of Elasticity, can you tell me anything about the elasticity of Demand for this product?

Reference no: EM132907620

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