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At $182, a firm can sell 19,310 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At this price, elasticity
At $182, a firm can sell 19,310 stereo earphones (3.5 mm for android). These are premium earphones, guaranteed for 5 years. At this price, elasticity is estimated at 0.4. What is the change in total revenue (+ or -) if the firm drops price by 11%?
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