Suppose that new entry decreased your demand elasticity
Suppose that new entry decreased your demand elasticity from -2 to -3 (made demand more elastic). By how much should you adjust your price of $10? (Hint: use formula: Use the formula (p-mc)//|elasticity|)
Now Priced at $10 (50% Discount)
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suppose that new entry decreased your demand elasticity from -2 to -3 made demand more elastic by how much should you
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