Question

Mia's Restaurant sells mango pies. Mia knows that the demand curve for her pies does not shift over time, but she wants to learn more about that demand. She has tested the market for her pies by charging different prices. When she charges Rs. 4 per pie, she sells 30 pies per week. When she charges Rs. 5, she sells 24 pies per week. If she charges Rs. 4.50, she sells 27 mango pies per week. a); With these data draw a graph of the linear demand curve for Mia's mango pies. b) Find the price elasticity of demand at each of the three prices.

Answer 1

Answer:

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