P. Terry's decides to drop the price of their lemonade from $4 to $3. The company sees that sales of lemonade increase from 600 to 900 per month. Calculate the price elasticity of demand using the midpoint method. (If the number is negative, include a minus sign. If you choose to use one of your three skips, leave the answer blank)

P. Terry's decides to drop the price of their lemonade from $4 to $3. The company sees that sales of lemonade increase from 600 to 900 per month. Calculate the price elasticity of demand using the midpoint method. (If the number is negative, include a minus sign. If you choose to use one of your three skips, leave the answer blank)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter20: Elasticity: Demand And Supply

Section: Chapter Questions

Problem 11E: The price elasticity of the demand for gasoline is -0.02. The price elasticity of demand for...

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