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At $80 , a firm can sell 4,715 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.2. What is the
At $80 , a firm can sell 4,715 stereo earphones (3.5 mm for android). At this price, elasticity is estimated at 2.2. What is the change in total revenue (+ or -) if the firm drops price by 12%? Round your answer to the nearest dollar.
At $171, a firm can sell 19,195 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 10%?
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