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Estimating the fourth quarter sales volume

Question:

ABC, Inc sells it toys for $15 with a sales volume of 30,000 units per quarter. Assume the price elasticity coefficient is -0.5 and ABC, Inc raises the price to $16 in anticipation of the Christmas season. Estimated 4th quarter sales volume will be?

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## Q : Compute the elasticities for each independent variable

Compute the elasticities for each independent variable. Note: Write down all of your calculations.