. You manage a store that sells Nag Champa Incense. When the price of Nag Champa is $3.50 you sell 400 per month. When the price of Nag Champa is $2.50 you sell 600 per month. What is the price elasticity of demand for Nag Champa?
A. 0
B. .83
C. 1.2
D. 2.1
E. none of the above.
15b. Is the price elasticity of demand elastic, inelastic, or unit elastic?
15c. What was your original TR?
15d. What is your new TR?
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