Economy, asked by swati6072, 6 months ago

A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, it must lower its price by
A) 7.5 percent B) 7.8 percent C) 10.2 percent D) 10 percent

Answers

Answered by Anonymous

Answer:

B) 7.8 percent

Explanation:

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A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, it must lower its price by A) 7.5 percent B) 7.8 percent C) 10.2 percent D) 10 percent

Answers

A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, it must lower its price by
A) 7.5 percent B) 7.8 percent C) 10.2 percent D) 10 percent