Hanson Corporation recently changed the selling price of one of its products.Data concerning sales for comparable periods before and after the price change are presented below. The product's price elasticity of demand as defined in the text is closest to:
$$\begin{array}{l}
\text { Selling Price}&\text { Unit Sales }\
\$ 62.00 & 5,200 \
\$ 63.00 & 5,000
\end{array}$$

Question

Quizplus · Accepted Answer

The Answer of Hanson Corporation recently changed the selling price of one of its products.Data concerning sales for comparable periods before and after the price change are presented below. The product's price elasticity of demand as defined in the text is closest to:
$$\begin{array}{l}
\text { Selling Price}&\text { Unit Sales }\
\$ 62.00 & 5,200 \
\$ 63.00 & 5,000
\end{array}$$

Hanson Corporation Recently Changed the Selling Price of One of Its