Last month, Tahoe Dave, LLC. increase the price of Backcountry skis by 1%. In response, sales dropped

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Last month, Tahoe Dave, LLC. increase the price of Backcountry skis by 1%. In response, sales dropped by 8% .

1. calculate the point price elasticity of demand for Tahoe Dave

2.calculate the optimal price for skis if the marginal cost is $ 500 per unit.

Posted Date: May 08, 2024 12:22 AM

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Last month, Tahoe Dave, LLC. increase the price of Backcountry skis by 1%. In response, sales dropped

Question:

Expert Answer:

1 To calculate the point price elasticity of demand we use the formula P... View the full answer

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