Should the price be changed, Business Economics

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Should the price be changed

Suppose a firm has a constant marginal cost of 10$. The curr

Suppose a firm has a constant marginal cost of 10$. The current price of the product is 25$, and at that price it is estimates that the price elasticity of demand is -3.0

a) Is the firm charging the optimal price for the product? Demonstrate how you know.

b) Should the price be changed? if so, How?

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Business Economics: Should the price be changed

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Business Economics: Should the price be changed

Reference No:- TGS025599

Have a Question? (oR Write a Review)

Recent Questions Asked Business Economics

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Request for Solution File

Ask an Expert for Answer!!

Business Economics: Should the price be changed

Reference No:- TGS025599

Recent Questions Asked Business Economics

Q : Evaluation of international investments

Q : Explain the specific features and benefits of your product

Q : Verbal and non-verbal forms of communication

Q : List 7 types of the fungi surfaces

Q : Should the price be changed

Q : Explain leadership in energy and environmental design

Q : Create a situations that illustrates what might happen

Q : Dynamics and concept of power in organizations

Q : Which of the following are considered protozoans

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