Jack in the Box recently estimated own-price elasticity of demand for large drinks to be -1.2. What percent decrease in unit sales of large drinks will result from a 1% increase in the price of large drinks? [Enter only a positive number. If the answer cannot be determined with this information, enter 99 as your answer]

Jack in the Box recently estimated own-price elasticity of demand for large drinks to be -1.2. What percent decrease in unit sales of large drinks will result from a 1% increase in the price of large drinks? [Enter only a positive number. If the answer cannot be determined with this information, enter 99 as your answer]

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 16SQ

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