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Lauren1 Lauren1
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9 years ago
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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MrDerecheMrDereche
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9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
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#3
9 years ago
You're welcome!
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