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Author Question: Suppose a fast-food chain determines that the price elasticity of demand for its hamburgers is 1.7, ... (Read 121 times)

Labomba

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on: Oct 12, 2022
Suppose a fast-food chain determines that the price elasticity of demand for its hamburgers is 1.7, and the price of the hamburger is currently $4.00. What will be the effect on quantity demanded and total expenditure on this chain's hamburgers if the price is increased to $6.00?
◦ Quantity demanded will fall by 11.76%, and total expenditure will decrease.
◦ Quantity demanded will fall by 34%, and total expenditure will decrease.
◦ Quantity demanded will fall by 1.7%, and total expenditure will increase.
◦ Quantity demanded will fall by 17%, and total expenditure will increase.
◦ Quantity demanded will fall by 68%, and total expenditure will decrease.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Labomba on Oct 12, 2022

MistyHubbard

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Labomba

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

laurnthompson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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