Nataraj (2007) finds that a 100100 % increase in the price of water for heavy users in Santa Cruz caused the quantity of water they demanded to fall by an average of 2020 %. (Before the increase, heavy users initially paid $1.551.55 per unit, but afterwards they paid $3.103.10 per unit.) In percentage terms, how much did their water expenditure (price times quantity) long dash-which is the water company's revenuelong dash- change?
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Home » Business » Nataraj (2007) finds that a 100100 % increase in the price of water for heavy users in Santa Cruz caused the quantity of water they demanded to fall by an average of 2020 %. (Before the increase, heavy users initially paid $1.551.