Answer to Question #328849 in Microeconomics for boysie

Question #328849

if the elasticity of demand is 1.6 and a firm increases the price of its product by 10% ,it would expect its total revenue to


1
Expert's answer
2022-04-17T17:12:51-0400

16"\\cdot 0.1 = 0.16"

16%


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