Use the following 2 points on a demand curve for Devils Backbone Vienna Lager to find the price elasticity of demand with the precise method we used at p = $2 120 bottles at p = $2.50 60 bottles go 2...


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Use the following 2 points on a demand curve for Devils Backbone Vienna Lager to find the price elasticity of demand with the precise method we used<br>at p = $2 120 bottles<br>at p = $2.50 60 bottles<br>go 2 places beyond the decimal for accuracy (like if you get 2.18 you shouldn't round it to 2.2) and remember the convention we followed about the sign (the<br>answer is always given as a positive ratio even though things move in opposite directions)<br>

Extracted text: Use the following 2 points on a demand curve for Devils Backbone Vienna Lager to find the price elasticity of demand with the precise method we used at p = $2 120 bottles at p = $2.50 60 bottles go 2 places beyond the decimal for accuracy (like if you get 2.18 you shouldn't round it to 2.2) and remember the convention we followed about the sign (the answer is always given as a positive ratio even though things move in opposite directions)

Jun 10, 2022
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