What is the value of joey price elasticity of demand

Reference no: EM133275955

Question - The State College Spikes baseball stadium's concession stands previously sold hot dogs for $5 each. At that price, when Joey went to watch a baseball game, he bought 2 hot dogs. But now that the stadium has a special night where hot dogs are just $2, Joey has purchased 4 hot dogs. Using the percent change formula for elasticity, what is the value of Joey's price elasticity of demand for hot dogs? (You'll have to use the percent change formula).

Reference no: EM133275955

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