The vending machines sell soft drinks at $3.50 per bottle. Now at this price, consumers buy 4,000 bottles per week. To increase sales, it has been decided to decrease the price to $2.50, increasing sales to5,000 bottles. Now, calculate the price elasticity of demand.

 

UPES Solved Assignments

UPES Semester 1 Solved Assignments for MBA/BBA

 Economics & Management Decisions

Assignment 1

UPES Solved Assignments

Case Study 1

The vending machines sell soft drinks at $3.50 per bottle. Now at this price, consumers buy 4,000 bottles per week. To increase sales, it has been decided to decrease the price to $2.50, increasing sales to5,000 bottles. Now, calculate the price elasticity of demand.


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