The price of a package of Reese's Peanut Butter Cups rises from $1.00 to $1.25. As a result, the weekly quantity of Reese's demanded falls from 10,000 to 9,000 packages. Calculate the price elasticity...


The price of a package of Reese's Peanut<br>Butter Cups rises from $1.00 to $1.25. As a<br>result, the weekly quantity of Reese's<br>demanded falls from 10,000 to 9,000<br>packages. Calculate the price elasticity of<br>demand using the average of the initial and<br>new prices and quantities as the basis for<br>figuring the percentage changes.<br>

Extracted text: The price of a package of Reese's Peanut Butter Cups rises from $1.00 to $1.25. As a result, the weekly quantity of Reese's demanded falls from 10,000 to 9,000 packages. Calculate the price elasticity of demand using the average of the initial and new prices and quantities as the basis for figuring the percentage changes.

Jun 07, 2022
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