Suppose the number of firms you compete with has recently


Elasticity and Pricing

Suppose the number of firms you compete with has recently increased. You estimated that as a result of the increased competition, the demand elasticity has increased from -2 to -3, i.e., you face more elastic demand. You are currently charging $10 for your product. What is the price that you should charge, if demand elasticity is -3?

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Basic Computer Science: Suppose the number of firms you compete with has recently
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