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Assume it costs about $1 to produce an ice cream cone. Last week you sold 300 cones for $300 each. This week you sold 400
Assume it costs about $1 to produce an ice cream cone. Last week you sold 300 cones for $300 each. This week you sold 400 cones at a price of $250. What price should you be charging? Step 1: Find Elasticity llf demand is inelastic lie, between 0 and 1}, then this will not work. Raise your price and try again next week. MC
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