Question: You decide to introduce the jacket. After setting the initial price at $174.99 listed in question 14. you observe that your company earned $24,498.60

You decide to introduce the jacket. After setting the initial price at

You decide to introduce the jacket. After setting the initial price at $174.99 listed in question 14. you observe that your company earned $24,498.60 of annual revenue on the new jacket. With the positive returns from customers, you decide to increase the price to $189.99 for the next quarter and observe that your revenue decreased to $22,798.80. What is the estimated price elasticity in for the jacket? Round to two decimal places.

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