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4 Aug 2018
(c) A tailor is currently producing 80 suits per month and sells them for $100 per suit. His monthly demand curve is given by q = 100 – 2/p. Find the current price elasticity of demand and use it to decide whether price should be raised or lowered to increase his revenue.
(c) A tailor is currently producing 80 suits per month and sells them for $100 per suit. His monthly demand curve is given by q = 100 – 2/p. Find the current price elasticity of demand and use it to decide whether price should be raised or lowered to increase his revenue.
papayaprofessorLv10
12 Oct 2022
Elin HesselLv2
5 Aug 2018
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