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Price Elasticity of Demand Assignment | Homework For You

Part 2: Open Response (20 marks) 1. Suppose the “Daily News’ estimates that if it raises the price of its newspaper from Elton then the number of subscribers will fall from 50,000 to 40,000. (2 marks)

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a. Calculate price elasticity of demand for the Daily News using the any method? Answer:

b. If the Daily News’s only concern is to maximize total revenue, should it raise the price of newspaper from €1.00 to €1.50? Why or why not? Answer: Get Economics homework help today

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