Q4) The Dixie Chicken currently sells 3,000 burger platters a month for $7, and the own-price elasticity for this platter has been estimated to be -1.3. If the Dixie Chicken raises prices by 70 cents, how many platters will be sold?

Q4) The Dixie Chicken currently sells 3,000 burger platters a month for $7, and the own-price elasticity for this platter has been estimated to be -1.3. If the Dixie Chicken raises prices by 70 cents, how many platters will be sold?

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 13SQ

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Question

Q4)
The Dixie Chicken currently sells 3,000 burger platters a month for $7, and the own-price elasticity for
this platter has been estimated to be -1.3. If the Dixie Chicken raises prices by 70 cents, how many
platters will be sold?

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