(Figure: Elasticity of Swim Trunks) The demand for swim trunks appears in the figure. What is the elasticity of demand for swim trunks? Suppose that your swimwear business is currently overstocked with swim trunks. If you want to sell 18 percent more swim trunks, how much should you cut your price? Figure: Elasticity of Swim Trunks
Correct Answer:
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The elasticity of demand is 30/25 ÷ -10...View Answer
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