Question
With the following data, use the formula for price elasticity to estimate the price that will reduce unfilled orders to zero. Orders=14,700 at Price=$50; Fleet
With the following data, use the formula for price elasticity to estimate the price that will reduce unfilled orders to zero.
Orders=14,700 at Price=$50; Fleet size=14,000; Price elasticity at price of $50 is -1.36. Enter the estimated price (to two decimal places) that will reduce unfilled orders to zero. For example, enter $55.16 as 55.16).
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Modeling Monetary Economies
Authors: Bruce Champ, Scott Freeman, Joseph Haslag
4th Edition
1316508671, 1316508676, 9781316723302 , 978-1107145221
