(Answered) Problem 1 suppose the number of firms you compete with has

Economics

Problem 1. Suppose the number of firms you compete with has recently increased. You estimated that as a result of increased competition, the demand elasticity has increased from -2 to -3, I. E., you face more elastic demand. You are currently charging $10 for your product. What is the price that you should charge, if demand elasticity is -3? (Essay)

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