Redbox rents DVDs for $1 per day via self-service kiosks located across the Unit

Lauren1

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Redbox rents DVDs for $1 per day via self-service kiosks located across the Unit

Redbox rents DVDs for $1 per day via self-service kiosks located across the United States. In 2007, each kiosk averaged about 50 rentals per day. Suppose Redbox increases their daily price to $1.50. What is the price elasticity of demand if rentals decrease by 20 per day?
A) 1.25
B) 1.33
C) 1
D) 0.8

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Lauren1 Author

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9 years ago

Thank you, this really, really helps Heavy Heart

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MrDereche

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9 years ago

You're welcome!

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