Answer to Question #219616 in Microeconomics for Sushant99

Question #219616

If the price elasticity is -3 and RM 100 is the marginal cost of product X, what should be the optimal sale price?

Expert's answer

Provided that:

Ed = -3

MC = 100 Malaysian ringgit

Then the optimal selling price is:

P = MR = MC = RM 100

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