Ashaki

When the price of corn dogs is $1.00, 5,000 corn dogs are demanded. When the price of corn dogs is $2.00, 2,500 are demanded. What is the price elasticity of demand for corn dogs?

If all the assumption of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What conditions would encourage research and development in competitive indust...

Price Quantity $50 300 40 600 20 800 10 1,000 According to the above demand schedule, if price falls from $20 to $10, then