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PRICE MART offered a whopping 10% discount on the average price of TV Plasma for fathers day. Customer response was so enthusiastic that unit sales rose by 15% over the previous month's level,

a. find out the point price elasticity of demand for TV Plasma during the month of the discount.

b. find out the profit maximizing price per unit if PRICE MART has an average wholesale cost of $350 and incurs marginal selling cost of $100 per unit.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946892

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