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Economics

The Bruises and Bumps Company makes and sells skateboards at an average price of $70 each. Over the past year they sold 4,000 skateboards. Its closest competitor, Broken Bones Inc., sells its skateboards at an average price of $65. If the point cross-price elasticity of demand between the two companies is 0.5, how many skate- boards will Bruises and Bumps sell if Broken Bones lowers their price 5%?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9447695

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