Suppose that in a week the price of Greek yogurt decreases from $1.75 to $1.25 per container. At the same time, the quantity of Greek yogurt demanded increases from 10,000 to 18,000 containers per week. What is the price elasticity of demand for Greek yogurt? Instructions: Round your response to one decimal place.

Suppose that in a week the price of Greek yogurt decreases from $1.75 to $1.25 per container. At the same time, the quantity of Greek yogurt demanded increases from 10,000 to 18,000 containers per week. What is the price elasticity of demand for Greek yogurt? Instructions: Round your response to one decimal place.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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