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The arc price elasticity of a product is XXXXXXXXXXAt a price of $4, there will be 700 units sold per period. If price is raised to $4.50, the units sold per period will be ___________, and the...

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The arc price elasticity of a product is XXXXXXXXXXAt a price of $4, there will be 700 units sold per period. If price is raised to $4.50, the units sold per period will be ___________, and the revenue will become ___________.
Answered Same Day Dec 20, 2021

Solution

David answered on Dec 20 2021
124 Votes
The arc price elasticity of a product is -0.75. At a price of $4, there will be 700 units sold per period. If
price is raised to $4.50, the units sold per period will be _640.8451 __________, and the revenue will
ecome __$2883.803_________.
Answer:
We have arc demand elasticity =-0.75...
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