Homework: Chapter 9 Marketing by the Numbers-2 Save Score: 0 of 1 pt 1 of 1 (0 complete) Score: 0%, 0 of 1 p Metrics 9.2 Question Help * Abercrombie & Fitch, once the favorite of loyal leens is considering lowering prices on all items it sels in effort to win them back aner several years of sales declnes. A&Fs total sales were $5 billion last year, but they have been decining in the face of a weak econonny and an intensively competitive retail envieonment. Price reductions are often effective in increasing sales, but marketers need to analyze how mch sales must go up before a price reduction pays off and increases revenue enough to make the it worth doing. Assuming A&Ps gross profit margin is 65 percent and cost of goods sold represents the only variable cost by what percentage must costs decrease to maintain the gross margin percentage of 65 percent if A&F lowers prices by 15 percent? Set the initial price equal to $1.00. Then the new price is$ 85 (Round to the nearest cenvt The new cost per unit needed to maintain the original ross margn percentage s # Round to the nearest cent