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Blackmores Vitamins produce a multi-vitamin supplement and examination of sales data has revealed that at a price of $20 per bottle they sell 45,000 units
Blackmores Vitamins produce a multi-vitamin supplement and examination of sales data has revealed that at a price of $20 per bottle they sell 45,000 units per month and at $30 per bottle they sell 30,000 units per month. What type of price elasticity of demand does this product have and would any change in its price have an impact on the total revenue Herron Pharmaceuticals could earn from this product? Explain.
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