Question

A product sells for $100 per unit, and the demand at that price is 10,000 units per week.

The firm increases its price to $110 each and sales fall to 8,000 units per week. What is the

price elasticity of demand for the product, and what effect will the price rise have on the

firm's revenue? (Revenue is just price times quantity)

Answer 1

Answer:

loss $120000

Explanation:

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Answer 2

Answer:

umm ? ?

Explanation: