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The Rollaway Company sells skateboards at a price of $70 each. During the past year they sold 4,000 of these skateboards. The company believes that the price elasticity of demand for this product is -2.5. If the price is decreased to $63, what should be the quantity sold? Will total revenue increase? Why?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9438671

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