Currently the retailer sells 50 suits per week for 200, Ask an Expert

Economics

A retailer of men's suits knows that the own price elasticity of demand which he faces in the range of prices between $100 and $200 is -2.1. Currently, the retailer sells 50 suits per week for $200 each. The retailer wants to sell the entire stock of 200 suits during the next year. What should be the sales price?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9439759

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