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Calculating Optimal Price Given Price Elasticity of Demand.

Given the price elasticity of demand for your product is 0.85, your marginal cost is 50 when you produce 1000 units, use the Lerner Index to find out your price mark-up. What is your optimal price if you produce 1000 units?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M925409

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