Calculate the price elasticity of demand

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Suppose that the management of Sun City Resort faces the following demand schedule: If the entrance fee is set at R200 (which is the current fee), then 2 000 visitors visit Sun City Resort each day and if the entrance fee is set at R150, then 3 500 visitors visit Sun City resort each day.

Calculate the price elasticity of demand using the arc method.

Reference no: EM132618088

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