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An increase or a decrease in price will affect the

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An increase or a decrease in price will affect the TR (total revenue) of a product or service depending it price elasticity. From the list presented below choose a product or service and explain how the TR will be affected.;?Newspapers Price elasticity =0.10;?Major league baseball tickets Price elasticity =0.23;?Restaurantmeals Price elasticity=2.27;In addition categorize the level of elasticity of a product or service of your choice from real life based on what you know happens to the percentage change in quantity demand when the price changes.

 

Paper#26550 | Written in 18-Jul-2015

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