If it decreases the price to 63 what should be the quantity, Ask an Expert

Economics

The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4000 skateboards. The company believes the price elasticity for this product is about -2.5. If it decreases the price to $63, what should be the quantity sold? Will revenue increase? Why? Show all work

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9448496

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