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As a manager of a firm you find the marginal cost of the firm to be $10 and the fixed cost $100. For the range of prices that you are planning to charge, own price elasticity of demand is believed to be -1.5. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M9450272

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