Question
Based in this table: Quantity Price Revenue Marginal Cost Profit Demand E Inverse E Markup 4295 $ 10.99 $ 47,202 $ 5.60 $ 23,150 -1.34
Based in this table:
| Quantity | Price | Revenue | Marginal Cost | Profit | Demand E | Inverse E | Markup |
| 4295 | $ 10.99 | $ 47,202 | $ 5.60 | $ 23,150 | -1.34 | 0.74582 | $ 0.49 |
| 3771 | $ 11.99 | $ 45,214 | $ 5.60 | $ 24,097 | -1.46 | 0.68536 | $ 0.53 |
| 3455 | $ 13.59 | $ 46,953 | $ 5.60 | $ 27,605 | -1.70 | 0.58688 | $ 0.59 |
Bakestuff's marginal cost of a jar of nutmeg is $5.60. Use the inverse elasticity pricing rule to recommend a profit-maximizing price for nutmeg based on your analysis above
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Using Microsoft Excel and Access 2016 for Accounting
Authors: Glenn Owen
5th edition
1337109048, 1337109045, 1337342149, 9781337342148 , 978-1337109048
