Question
Your Best Brand Bike Shorts-BBB Shorts have been flyingoff the shelf.Your chief economist tells you that during theCovid-19 pandemic, the taste for bicyclinghas changed.The price
Your Best Brand Bike Shorts-BBB Shorts have been flyingoff the shelf.Your chief economist tells you that during theCovid-19 pandemic, "the taste for bicyclinghas changed.The price elasticity of demand is much more inelastic.The price elasticity of demand hasdecreased from -5.76 to -2.70."
Before the campaign, your price was $240 per pair of BBB Shorts.What should the new price be?
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Modeling Monetary Economies
Authors: Bruce Champ, Scott Freeman, Joseph Haslag
4th Edition
1316508671, 1316508676, 9781316723302 , 978-1107145221
