Business, 18.02.2020 05:36 clairebear65

Suppose you are the manager of a restaurant that serves an average of 400 meals per day at an average price per meal of $20. On the basis of a survey, you have determined that reducing the price of an average meal to $18 would increase the quantity demanded to 450 per day.(a) Compute the price elasticity of demand between these two points.(b) Would you expect total revenues to rise or fall? Explain.

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