Question
At $172, a firm can sell 19,700 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At this price, elasticity
At $172, a firm can sell 19,700 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 11%?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
7th Edition
0072866578, 9780072866575
