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Mathematics, 25.09.2021 18:30 tae8002001

Suppose Honda sells 100 cars at $20,000 each, making a Total Revenue (TR) of $2,000,000. If the price elasticity of demand for Honda is 2, and Honda increases the price by 10%, by how much will the quantity demanded increase/decrease? How much will be TR after this change in price?

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Suppose Honda sells 100 cars at $20,000 each, making a Total Revenue (TR) of $2,000,000. If the pric...

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