An item is called "price elastic" if you drop the price and revenue goes up. Last week you sold 10 sodas for $2 each; this week you sold 30 sodas for $1 each. Is soda price elastic?
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Home » Mathematics » An item is called "price elastic" if you drop the price and revenue goes up. Last week you sold 10 sodas for $2 each; this week you sold 30 sodas for $1 each. Is soda price elastic?