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If John’s elasticity of demand for burgers is constantly 0.9, and he buys 4 burgers when the price is £1.50 per burger, how many will he buy when the price is £1.00 per burger

We are using elasticity to find quantity, instead of the other way around. We will plug in what we know, and solve from there. Elasticity = And, in the case of John, %Change in Quantity = (X – 4)/4 Therefore...
MS
Answered by Matthew S. Economics tutor
5830 Views

How do I write a personal statement that stands out from the crowd?

You want your personal statement to grab the attention of the person reading it.It needs to be concise, but also informative, and most importantly it needs to demonstrate your unique qualities.It is importan...
JT
3381 Views

How can I revise for my English exam?

English revision can be daunting because your teacher can't give you a list of facts to memorise. However, there's still lots you can do to make sure you go into the exam ready and confident! The most import...
CG
5325 Views

How can I prepare for a literature exam?

Although English literature exams can seem daunting, there are plenty of revision steps you can take in order to set yourself up for success. After you have familiarised yourself with your key texts, gather ...
FJ
8467 Views

What do you mean by the Gothic?

Good question! The Gothic has, historically, meant all sorts of things - originally meaning just 'to do with the Goths' (a Germanic tribe), it has been associated with a style of pseudo-medieval architecture...
DH
5727 Views