Best Buy originally priced a private-label portable DVD player at $90,then sold 1,500 units per week.After raising the price to $100,sales dropped to 1,000 units per week.First determine the price elasticity and then determine the profit-maximizing price if the private-label portable DVD player costs $50?
A) $90
B) $85.70
C) $75
D) $70.25
E) $70
Correct Answer:
Verified
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