Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Economics Posted 27 Jun 2018 My Price 3.00

Marco's Pizza

Until recently, Marco's Pizza sold a large pizza for $20 and they sell 250 large pizzas per week. They just raised the price to $28 and as a result, they only sell 150 pizzas per week. Using the midpoint rule, find the price elasticity of demand for Marco's Pizza's large pizzas. Is the demand for Marco's elastic or inelastic. Did their total revenue increase or decrease with the change in price?

Answers

(5)
Status NEW Posted 27 Jun 2018 09:06 PM My Price 3.00

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