Question
At $170, a firm can sell 18,105 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At this price, elasticity
At $170, a firm can sell 18,105 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At this price, elasticity is estimated at 0.6. What is the change in total revenue (+ or -) if the firm drops price by 9%?
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Small Business Management Launching and Growing New Ventures
Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy
6th Canadian edition
176532218, 978-0176532215
