Suppose Amazon raises its Prime membership monthly fee from $10.99 to $13.99. The price elasticity of demand for Amazon membership subscription in this price range is estimated at −1.2. You predict that the number of Prime subscriptions will (increase/decrease) by (enter a number rounded to one digit after the decimal point, e.g., 22.2) % and that Amazon’s revenue will (increase/decrease) by (enter a number rounded to one digit after the decimal point, e.g., 9.9) %

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19-07-2024
Business

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Suppose Amazon raises its Prime membership monthly fee from $10.99 to $13.99. The price elasticity of demand for Amazon membership subscription in this price range is estimated at −1.2. You predict that the number of Prime subscriptions will (increase/decrease) by (enter a number rounded to one digit after the decimal point, e.g., 22.2) % and that Amazon’s revenue will (increase/decrease) by (enter a number rounded to one digit after the decimal point, e.g., 9.9) %

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