16. Elasticity is 8, price is $16, and marginal cost is $7. a. Should you raise...

Question

Question

16. Elasticity is 8, price is $16, and marginal cost is $7.

a. Should you raise or lower price? What is your marginal revenue? Briefly explain.

b. Approximately what should the price be?

Answer 1

Answer #1

Answer 2

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