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An ice cream van charges 1 for an ice cream and sells, on average, 600 ice creams per week. The owner is considering reducing
An ice cream van charges 1 for an ice cream and sells, on average, 600 ice creams per week. The owner is considering reducing the price by 20%. The owner estimates that the price elasticity of demand is -3. Calculate the percentage weekly increase in revenue if the owner increases the price.
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Pricing Strategies A Marketing approach
Authors: Robert M. Schindler
1st edition
1412964741, 978-1412964746
