Question: A retail store faces a demand equation for Roller Blades given by: Q = 180 - 1.5P, where Q is the number of pairs sold

A retail store faces a demand equation for Roller Blades given by: Q = 180 - 1.5P, whereQis the number of pairs sold per month and P is the price per paid in dollars.

a. The store currently charges P = $80 per pair. At this price, determine the number of pairs sold.

b.If management were to raise the price to $100, what would be the impact on pairs sold? On the store's revenue from Roller Blades?

c.Compute the point of elasticity of demand first at P = $80, and then at P = $100. At which price is demand more price sensitive?

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2. Ask questions, listen rather than attempt to persuade.

9. How much of the information collected will be used in decision-making?

1. Background knowledge of the subject and