Managerial Economics 7th Edition by Paul Keat ,Philip Young,Steve Erfle

تمرين 6

The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that 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