Question
You are the owner of a carwash and your goal is to maximize profits. Based on your experience, the elasticity of demand by Texans for
You are the owner of a carwash and your goal is to maximize profits. Based on your experience, the elasticity of demand by Texans for a car wash is -3, while the elasticity of demand by non-Texans for a car wash is -4. If you charge Texans $9 for a car wash, how much should you charge a man with New Mexico license plates for a car wash?
$5.00
$6.00
$7.00
$8.00
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Macroeconomics
Authors: David Colander
8th edition
978-0078004407, 78004403, 978-0077247171, 77247175, 978-0077307110
