How many skateboards should expect to sell in a given year, Microeconomics

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How many skateboards should expect to sell in a given year

The Bruises and Bumps Company makes and sells skateboards at an average price of $70 each. Over the past year they sold 4,000 skateboards. Its closest competitor, Broken Bones Inc., sells its skateboards at an average price of $65. If the point price elasticity of demand for the skateboards produced by Bruises and Bumps is -2.5, and Bruises and Bumps were to lower their price by 5%, how many skateboards should they expect to sell this year?

a. 4500

b. 6000

c. 4250

d. 3500

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Microeconomics: How many skateboards should expect to sell in a given year

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Recent Questions Asked Microeconomics

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Microeconomics: How many skateboards should expect to sell in a given year

Reference No:- TGS064952

Recent Questions Asked Microeconomics

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