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Answer to Question #7292 in Microeconomics for cornelius

Question #7292
THe teenager company makes and sells skateboards at an average price of $70 each. During the past year they sold 4000 of these skateboards. The company bellieves that the price elasticity for this product is about 2.5. If it decreases the price to $63 what should be the quantity sold will revenue increase why
1
Expert's answer
2012-03-15T09:50:01-0400
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