Try another version of these questions Suppose that a store reduces the price of peanut butter from $4.2 to $3.9. As a result, quantity demanded increases from 210 to 260. Using the point elasticity approach, calculate percentage change in price. Your answer should be expressed in absolute value terms. Hint Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Suppose that a store decreases the price of cereal from $4 to $3.8. As a result, quantity demanded increases from 220 to 250. Using the point elasticity approach, calculate price elasticity of demand. Your answer should be expressed in absolute value terms. Hint Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity