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The marketing director of the Krehlik Corporation has used historical sales data on the hand-embroidered tablecloths it imports from Hungary to conduct a regression analysis,
The marketing director of the Krehlik Corporation has used historical sales data on the hand-embroidered tablecloths it imports from Hungary to conduct a regression analysis, with the following result: q = -2 * p + $263, where q = slope * p + MWB. Krehlik pays $9 for each tablecloth and sells the cloths for $35 in the U.S. The firm is considering increasing the price it charges, however. What will the percentage decrease in demand be if the price is increased by 10%?
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