Solved: Charge for car wash with oklahoma license plates, Macroeconomics

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Charge for car wash with oklahoma license plates

Question:

You are the manager of a gas station and your goal is to maximize profits. Based on your past experience, the elasticity of demand by Texans for a car wash is -4, while the elasticity of demand by non Texas car wash is -6. If you charge Texans $20 for a car wash, how much should you charge a man with Oklahoma license plates for a car wash? Show your work.

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Macroeconomics: Charge for car wash with oklahoma license plates

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Macroeconomics: Charge for car wash with oklahoma license plates

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