Until recently, Dave's Donuts sold their premium chocolate-cornflake-cronut for $3.75, and they would sell 55 per week. Now, Dave has raised the price of the chocolate- cornflake-cronut to $4.25, as a result, they are selling only 45 per week. Using the midpoint rule, find the price elasticity of demand for the chocolate-cornflake- cronut at Dave's Donuts. [a]

Until recently, Dave's Donuts sold their premium chocolate-cornflake-cronut for $3.75, and they would sell 55 per week. Now, Dave has raised the price of the chocolate- cornflake-cronut to $4.25, as a result, they are selling only 45 per week. Using the midpoint rule, find the price elasticity of demand for the chocolate-cornflake- cronut at Dave's Donuts. [a]

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter5: Price Elasticity Of Demand And Supply

Section5.3: Determinants Of Price Elasticity Of Demand

Problem 1YTE: According to the previous discussion, what factors influence the price elasticity of demand for...

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