The price elasticity of demand for a product is 0.51. A percentage change in price is 17%. The initial quantity of the product is 190 units. Calculate the new quantity of the product.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 15SQ
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The price elasticity of demand for a product is 0.51. A percentage change in price is
17%. The initial quantity of the product is 190 units.
Calculate the new quantity of the product.
Transcribed Image Text:The price elasticity of demand for a product is 0.51. A percentage change in price is 17%. The initial quantity of the product is 190 units. Calculate the new quantity of the product.
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