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7. DEMAND-RELATED PRICING CALCULATIONS a. Calculate the price elasticity of demand for a restaurants pizza...

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Accounting

7. DEMAND-RELATED PRICING CALCULATIONS

a. Calculate the price elasticity of demand for a restaurants pizza under the

following conditions:

Old price: $12

Old quantity:

1500/month

Total Revenue: $18,000

New price: $15

New quantity: 1000/month

Total revenue: $15,000

b. If the new quantity sold per month were 800 (instead of 1000), what would be

the price elasticity of demand?

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