Economics Today 18th Edition by Roger LeRoy Miller

تمرين 5

At a price of $57.50 to plaY ₁8 holes on local golf courses, 1,200 consumers pay to play a game of golf each day. A rise in the price to $62.50 causes the number of consumers to decline to 800. What is the price elasticity of demand? Is demand elastic, unit-elastic, or inelastic?