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 Last week, Discount Food Stores, Inc. reduced the average price

Question # 00711702
Subject: General Questions
Topic: General General Questions
Due on: 09/14/2018
Posted On: 09/14/2018 01:13 PM

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Question

 Last week, Discount Food Stores, Inc. reduced the average price on the 22ounce size of Dishwashing Liquid by 1%. In response, sales jumped by 8%.

 

A. Calculate the point price elasticity of demand for Dishwashing Liquid.

 

B. Calculate the optimal price for Dishwashing Liquid if marginal cost is 70¢ per unit.

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 Last week, Discount Food Stores, Inc. reduced the average price

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