Calculate the point elasticity of demand for cans of lemon

Reference no: EM133710972

Question 1 Calculate the point elasticity of demand for cans of Lemon-Boost in the city of Athens pooled over all years in the sample, when the price is 0.4 euros and the quantity is 33,340 units. Use this answer to determine how to adjust prices to optimize revenues for this market. At this point: what is the expected quantity demanded if prices increase to 0.44 euros, which is equivalent to a 10 percent increase in price?

Reference no: EM133710972

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