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Please answer and show full explanation and computation The schedule below shows the demand and elasticity coefficients for computers Quantity Demanded (per Week) Unit Price
Please answer and show full explanation and computation
The schedule below shows the demand and elasticity coefficients for computers Quantity Demanded (per Week) Unit Price Elasticity Coefficient 140 900 0.8 120 1,100 0.9 100 1,200 1.0 80 1,300 1.1 60 1,400 1.3 40 1,500 2.0 A computer manufacturer has experienced a weekly demand of 100 computers, at a price of $1,200 per computer. Weekly revenues, therefore, have been $120,000. However, at that price, the manufacturer has been experiencing a loss. At what price will the manufacturer see the highest revenues? Round to a whole numberStep by Step Solution
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