Should the owner of the store increase the price

Reference no: EM13205234

If the price of a bottled water increases from $1.50 to $1.75, and demand decreases from 100 to 89 (per day), what is the price elasticity of demand? Is it elastic or inelastic? Should the owner of the store increase the price to $1.75 to increase to increase the total revenue? why or why not?

Reference no: EM13205234

Questions Cloud

Calculate its excess reserves of banks : Suppose that the reserve requirement is 3% on the first 30 million of checkable deposits and 10% on the checkable deposits in excess of 30 million. (Amounts on the balance sheet are in millions of $) Assets- Reserves 15.9, Loans 150.0, Securities 3..

Define benzoic acid dissociates in water : Benzoic acid is a weak acid that has antimicrobial properties. Its sodium salt, sodium benzoate, is a preservative found in foods, medications, and personal hygiene products. Benzoic acid dissociates in water:

Explain microwave electromagnetic radiation : Microwave ovens heat food by creating microwave electromagnetic radiation that is absorbed by water molecules in the food. Any material that does not have water in it will not absorb the radiation and will not get hot.

Should the owner of the store increase the price : If the price of a bottled water increases from $1.50 to $1.75, and demand decreases from 100 to 89 (per day), what is the price elasticity of demand Is it elastic or inelastic Should the owner of the store increase the price to $1.75 to increase t..

Compute the number of theoretical plates n : Calculate the number of theoretical plates N in the column of length L in 20 cycles. The observed resolution is 1.81. B) Now, calculate the plate height in the column in m.

Explain would it be sensible to run the flight : marginal airlines runs 10 flights per day at a total cost of $50,000, including $35,000 in fixed costs for airport fees and the reservation system and $15,000 for flight crews and food services. If an 11th flight would have 20 passengers, each pay..

What yield to maturity is the bond offering : Calculate the price of a zero coupon bond that matures in 18 years if the market interest rate is 5.20 percent and whats the current yield of a 6.80 percent coupon corporate bond quoted at a price of 97.48?

Find the elution time for species a : Species A and B were separated using column chromatography. The elution time for species A (tA) was 200 s with a peak width (wA) of 35 s and the elution time for species B (tB) was 321 s with a peak width (wB) of 35 s.

User Account

All Pages