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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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