Assume that a product has a price elasticity of -0.7. In order to reduce unit sales by
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Assume that a product has a price elasticity of -0.7. In order to reduce unit sales by 20%, what would the necessary price increase be? (Give your answer either as an estimate or to within one decimal place. The answer should be as a percentage, but do not include the % sign)
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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