Business, 26.06.2020 15:01 amandapill

An end-of-aisle price promotion changes the price elasticity of a good from −2 to −3. Suppose the normal price is $34, which equates marginal revenue with marginal cost at the initial elasticity of –2. What should the promotional price be when the elasticity changes to –3? (Hint: In other words, what price will equate marginal revenue and marginal cost?)

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An end-of-aisle price promotion changes the price elasticity of a good from −2 to −3. Suppose the no...

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