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4. The Suja Juice manufactures a variety of juices selling for $2.98 each. Sales have averaged 10,000 units per month during the last year. Recently
4. The Suja Juice manufactures a variety of juices selling for $2.98 each. Sales have averaged 10,000 units per month during the last year. Recently Suja Juice's closest competitor, Naked Juice, cut its prices on similar juices from $3.49 to $2.59. Suja Juice noticed that its sales declined to 8,000 units per month after the price cut. a. What is the arc cross elasticity of demand between Suja Juices's and Naked Juice's? b. (Extra example, some tough math to solve, will not be held responsible for the math) If Suja Juice knows the arc price elasticity of demand for its juice is 2.2, what price would they have to charge in order to obtain the same level of sales as before Naked Juice's price cut
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