Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Are Price Elasticity of demand at SkateNation. a. η--0.90 bn=-1.11 a η- 0.90 bn= 1.11

Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Are Price Elasticity of demand at SkateNation. a. η--0.90 bn=-1.11 a η- 0.90 bn= 1.11

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 6P: Explain why using the midpoint formula for calculating the elasticity of demand gives the same...

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