40 POINTS FOR ANSWER RN A local drinking establishment recently raised its price of a draft beer from $4 to $5. As it did, the number beers it sold decreased from 5,000 to 4,000 per month of this particular brew.

Over this price range what was the elasticity of demand for this beer?

The – effect means tommy's – will shift because he has less purchasing power. as a result, he may choose the regular-size steak instead of the larger "hunter's portion" he prefers. the – effect means tommy may spend some of the money he saved by ordering the smaller steak to order a bigger salad.