Question
9.At $75 , a firm can sell 4,835 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.3. What is the
9.At $75 , a firm can sell 4,835 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.3. What is the change in total revenue (+ or -) if the firm drops price by 8%? Round your answer to the nearest dollar.
ANSWER IS 32,375
SHOW ME WORK TO GET IT
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrod Harford, David Stangeland, Andras Marosi
3rd Canadian Edition
0135418178, 978-0135418178
