Question
A manager wants to calculate the price of a product produced by the firm she works for. Recent calculations show that the elasticity value of
A manager wants to calculate the price of a product produced by the firm she works for. Recent calculations show that the elasticity value of the product produced by the firm is -2, and that the marginal revenue is $20. Given the above what will be an appropriate price for the product?
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Fundamentals of Futures and Options Markets
Authors: John C. Hull
8th edition
978-1292155036, 1292155035, 132993341, 978-0132993340
