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Suppose the number of firms you compete with has recently increased. You estimated that as a result the increase competition, the demand elasticity has increased
Suppose the number of firms you compete with has recently increased. You estimated that as a result the increase competition, the demand elasticity has increased from -2 to -3 you face more elastic demand, you are currently charging $10 for your product. if demand elasticity id -3, you should charge (x). Can you please assist with this question?
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