On Friday, Dixie set up a lemonade stand and determined that if she reduced the price for a glass of lemonade by 4%, she sold 12% more glasses of lemonade. Answer the following questions: (a) What was the price elasticity of demand for lemonade on Friday? (b) Should Dixie raise or lower her price to […]
Tag Archives: Lemonade
What are the business decisions (albeit simple ones) you should be thinking about?
Lemonade Stand Dialogue 1 – Starting Your Lemonade Stand Empire You are nine years old. It is a hot summer day and you want to start up a lemonade stand on your front lawn. What are the business decisions (albeit simple ones) you should be thinking about? Let us consider the decisions a nine-year-old would […]
