Business, 25.06.2019 07:30 montgomerykarloxc24x

You run a small business and would like to predict what will happen to the quantity demanded for your product if you raise your price. while you do not know the exact demand curve for your product, you do know that in the first year you charged $5353 and sold 1 comma 3941,394 units and that in the second year you charged $4343 and sold 2 comma 1722,172 units. if you plan to lower your price by 10 percent, what would be a reasonable estimate of what will happen to quantity demanded in percentage terms? incorporate the point elasticity of demand using the initial price and quantity in your answer. the quantity demanded will

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You run a small business and would like to predict what will happen to the quantity demanded for you...

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