Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold. What

Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold. What is the elasticity of demand facing Fantastic Cuts?

A. -0.05

B. -0.10

C. -0.33

D. None of the above

 
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"