Business, 19.02.2020 00:18 meganwintergirl

Ghose and Han (2014) found that the elasticity of demand for Google Play apps is negative 3.7. This elasticity applies to a small college town where approximately 1,000 apps per month are sold. If price rises by 10%: 1) What would be the effect on quantity demanded? The quantity demanded will decrease decrease increase by 37 percent.(Enter your response rounded to one decimal place.) 2) Would revenue rise or fall? Revenue would fall remain unchanged rise fall . 3) What is the percentage change in revenue? The change in revenue is 43.30 percent.(Enter your response rounded to two decimal places.)

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Ghose and Han (2014) found that the elasticity of demand for Google Play apps is negative 3.7. This...