An ice cream van charges 1 for an ice cream and sells, on average, 600 ice...
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An ice cream van charges £1 for an ice cream and sells, on average, 600 ice creams per week. The owner is considering reducing the price by 20%. The owner estimates that the price elasticity of demand is -3. Calculate the percentage weekly increase in revenue if the owner increases the price. An ice cream van charges £1 for an ice cream and sells, on average, 600 ice creams per week. The owner is considering reducing the price by 20%. The owner estimates that the price elasticity of demand is -3. Calculate the percentage weekly increase in revenue if the owner increases the price.
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Related Book For
Pricing Strategies A Marketing approach
ISBN: 978-1412964746
1st edition
Authors: Robert M. Schindler
Posted Date:
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