Optimal price last week discount food stores inc reduced, Financial Accounting

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Optimal price last week discount food stores inc reduced

Optimal Price. Last week, Discount Food Stores, Inc. reduced the average price on the 22 ounce size of Dishwashing Liquid by 1%. In response, sales jumped by 8%.

A. Calculate the point price elasticity of demand for Dishwashing Liquid.

B. Calculate the optimal price for Dishwashing Liquid if marginal cost is 70¢ per unit.

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Financial Accounting: Optimal price last week discount food stores inc reduced

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