Big O tires can sell 10,230 Michelin RG Tires per week nationally if the price is...
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Big O tires can sell 10,230 Michelin RG Tires per week nationally if the price is set at $85 per tire, but only 8,320 tires if the price is $105 each. Using a LINEAR demand model 1. What is the price elasticity of demand for this tire at Big O Tires if the price is $110? (nearest 0.01) 2. The Tires are Select an answer at that price? 3. What is the price elasticity of demand for this tire at Big O Tires if the price is $90? (nearest 0.01) 4.The Tires are Select an answer at that price? 5. At what price is the maximum revenue per week achieved? 6. What is that maximum revenue per week? 7. How many tires will be sold each week at that optimal price nearest 1$ nearest $1,000 (nearest 10 tires) Big O tires can sell 10,230 Michelin RG Tires per week nationally if the price is set at $85 per tire, but only 8,320 tires if the price is $105 each. Using a LINEAR demand model 1. What is the price elasticity of demand for this tire at Big O Tires if the price is $110? (nearest 0.01) 2. The Tires are Select an answer at that price? 3. What is the price elasticity of demand for this tire at Big O Tires if the price is $90? (nearest 0.01) 4.The Tires are Select an answer at that price? 5. At what price is the maximum revenue per week achieved? 6. What is that maximum revenue per week? 7. How many tires will be sold each week at that optimal price nearest 1$ nearest $1,000 (nearest 10 tires)
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