Compute the point price elasticity of demand for bearing, Ask an Expert

Economics

Optional Price. Last month, Rick\'s Bike shop, Inc. increased the price on the 24 ounce can of bearing grease by 1%. In response, sales dropped by 4%.

1. Calculate the point price elasticity of demand for bearing grease.

2. Calculate the optional price for bearing grease if marginal cost is $4.50 per unit.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9167329

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