If the marginal revenue from a product is $15 and the price elasticity of demand is 1.2,

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If the marginal revenue from a product is $15 and the price elasticity of demand is −1.2, what is the price of the product?

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Managerial economics applications strategy and tactics

ISBN: 978-1439079232

12th Edition

Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris

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Question Posted: Dec 03, 2012 02:23 AM

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If the marginal revenue from a product is $15 and the price elasticity of demand is 1.2,

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Because MR P 1 1E D we can find P after substituting for both M...View the full answer

Managerial economics applications strategy and tactics

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