Julie's Jewelry Box is an online store. One of its most popular items is a ring that
Question:
Julie's Jewelry Box is an online store. One of its most popular items is a ring that costs Julie $3 to make. Julie originally priced these rings at $29 and sold 249 of them. When she increased her price to $26, her sales dropped to 222. What will her sales be at a price of $20 if there is constant price elasticity?
The marketing director of the Krehlik Corporation has used historical sales data on the hand-embroidered tablecloths it imports from Hungary to conduct a regression analysis, with the following result: q = -2 * p + $324, where q = slope * p + MWB. Krehlik pays $10 for each tablecloth and sells the cloths for $43 in the U.S. The firm is considering increasing the price it charges, however. What will the percentage decrease in demand be if the price is increased by 10%?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill