(Answered) You are a price maker and you set your own price for your

Engineering

You are a price maker and you set your own price for your product. You believe that the elasticity of demand for your product is -4. By how much should you mark up your product price over your marginal cost?

A. 40%

B. 33.333%

C. 20%

D. 16.667%

E. 10%

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