Samsung has determined that it is optimal to price their new smartphone depending on the price elasticity of demand for the new phone in different countries. They know that the price elasticity of demand for the new phone in the United States is -1.67, while the price elasticity of demand for Canadians is -2.33. Assume marginal cost is constant at $200. What price should they charge customers in each country? Assume all prices are in U.S. dollars. Show your work

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Absolutely Samsung can leverage the concept of price elasticity of demand to set optimal prices in the US and Canada for their new smartphone Heres ho... View the full answer