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At $79 , a firm can sell 4,510 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.7. What is the
At $79 , a firm can sell 4,510 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.7. What is the change in total revenue (+ or -) if the firm drops price by 9%? Round your answer to the nearest dollar.
*ANSWER is 46,720. Show me how to solve this to get the answer 46,720.
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