Question

In this question, assume that all variables other than price and quantity are held constant. At Betty's Burgers, the hamburgers have a price elasticity of demand = 4.55, and Betty increases her quantity sold by 65%. Betty must have increased the price of her burgers. Betty must have changed her price by (round your answer to one decimal) Due to the price change, Betty's total revenue will decrease. Patty's Putts increased the price of a round of miniature golf by 16%. Patty has calculated her price elasticity of demand at 0.42 She can expect the number of golfers to decrease. Patty can expect the number of golfers to change by (round your answer to one decimal) Patty can expect her total revenue to increase

Answer 1

Betty Burgers & - - the hamburgues have a brice a los traty of demanda 4-55 Change in quantety demand = 645 65% basticity of demand =% change in demand - garantly 7. Change in price 4.55 - 65% T % change in price to change in price =655% z 14.29.2.17 पा 14,32 must hare Increased the price of her - burgers I Betty Belly Due to Price must changed her price by 14.3% teen, the have change. Ehrono Roncoase in price change .. woulde result In decrease in revenue for the seller تماع - ا?p& total sevenue Due to the change Betty's price will decreale

Patty's Putto :- Porice elastreity of demand = % chang in demand quartelin of golfer - % change imprice] 0.42= % change in demand quantity = Igopes - î 16% %. Shange in demand quantity geheime or She - .. the numbu of golfers to change by 6.7% Can Expect the number of golferto decreases can expect the member of golfers to 6.7 % Patty change an increase in price woulds results in increase En revenue for sellu if price elastucty Es lese Than ep<1-inelastic So, Patty Com Expect her total gevenue its