1.)Suppose a firm has a constant marginal cost of $10.The current price of the product is $25,...

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1.)Suppose a firm has a constant marginal cost of $10.The current price of the product is $25, and at that price, it is estimated that the price elasticity 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?

Posted Date: Jun 23, 2024 06:00 AM

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1.)Suppose a firm has a constant marginal cost of $10.The current price of the product is $25,...

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