What percentage will quantity demanded change

Reference no: EM133706637

Question: You bring your boss a report indicating that the own-price elasticity of your main product is -1.2. She comes from the creative side of the business, and immediately asks, "so we're thinking about raising the price by 2 percent. What will that do?" By what percentage will quantity demanded change according to your calculations? Provide the percentage as a whole number (i.e., 2.5 for 2.5%) and round to one decimal place.

Reference no: EM133706637

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