Business, 30.06.2021 01:00 shaylawaldo11

Each scenario below gives some information about price elasticity of demand for a firm. Use this information to answer the questions. Honest Abe's Used Cars estimates the price elasticity of demand for their cars to be 5.10. Last month, Abe tried a new marketing scheme which decreased the number of cars sold by 57%.
Abe must have_prices. Abe's prices must have changed by_. Therefore, Abe's total revenue.
At Webs-R-Us, a website design company, the new manager has decided to increase the price of Webs-R-Us services by 45%. If Webs-R-Us has a price elasticity of demand at 0.70, we can expected the number of websites designed to. Therefore, Webs-R-Us's total revenue will The number of websites will change by.

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Each scenario below gives some information about price elasticity of demand for a firm. Use this inf...