Demand Schedule for Mango Quantity Price Demanded (per kilo) (per truck) Php 500 110.00 Php 90.00 1200 a. What is the price elasticity coefficient of Mango? b. If you are a seller and wants to earn more revenue, what price should you set to maximize your income? Why?

Demand Schedule for Mango Quantity Price Demanded (per kilo) (per truck) Php 500 110.00 Php 90.00 1200 a. What is the price elasticity coefficient of Mango? b. If you are a seller and wants to earn more revenue, what price should you set to maximize your income? Why?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2.5P: (Determinants of Price Elasticity) Would the price elasticity of demand for electricity be more...

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Question

Demand Schedule for
Mango
Quantity
Price
Demanded
(per kilo)
(per truck)
Php
500
110.00
Php 90.00
1200
a. What is the price elasticity
coefficient of Mango?
b. If you are a seller and wants to earn
more revenue, what price should you
set to maximize your income? Why?

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