Microeconomics and Market Systems


Question Description:

25

Microeconomics and Market Systems 12 answers below ยป Suppose you are a painter and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35gallons a month to 20 gallons a month. Perform them following: Compute the price elasticity of demand for paint and show your calculations. Nov 17 2012 05:04 AM

Answer

25