Business, 30.05.2020 22:04, nnekas

If a 10% increase in the price of Lucky Charms cereal causes a 25% reduction in the number of boxes of cereal demanded, what is the price elasticity of demand for Lucky Charms cereal? Is demand for Lucky Charms elastic or inelastic?

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If a 10% increase in the price of Lucky Charms cereal causes a 25% reduction in the number of boxes...