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Biraj Biraj
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4 years ago
Joe's pizzeria raised its prices by 10% but all the other pizzerias in town kept their prices the same. It thus decides to lower its prices by 10%, only to find that the other pizzerias lower theirs too. This shows that the demand for Joe's pizzas is

▸ has a horizontal section at the current price.

▸ is kinked.

▸ is highly elastic.

▸ equal to MR.
Textbook 
Essential Economics for Business

Essential Economics for Business


Edition: 5th
Authors:
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NashuaNashua
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4 years ago
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Biraj Author
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4 years ago
Smart ... Thanks!
lierac00
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Yesterday
You make an excellent tutor!
Fanmkreyol
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2 hours ago
Correct Slight Smile TY
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