Business, 29.06.2021 23:30 any80

Elasticity Work It Out: Question 1 of 3 Nile, the online bookseller, wants to increase its total revenue. One strategy is to offer a 10% discount on every book it sells. Nile knows that its customers can be divided into two distinct groups according to their likely responses to the discount. The accompanying table shows how the two groups respond to the discount. Group A (sales per week) Group B (sales per week) Volume of sales before the 10% discount 1.55 million 1.50 million Volume of sales after the 10% discount 1.65 million 1.70 million Using the midpoint method, calculate the price elasticity of demand for group A and B in the table. Round answers to two places after the decimal when applicable. Group A: Group B:

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Elasticity Work It Out: Question 1 of 3 Nile, the online bookseller, wants to increase its total rev...