question archive Last week, Discount Food Stores, Inc
Last week, Discount Food Stores, Inc
Subject:MarketingPrice:2.88 Bought3
Last week, Discount Food Stores, Inc. reduced the average price on the 2222 ounce size of Dishwashing Liquid by 1%1%. In response, sales jumped by 8%8%.
A) Calculate the point price elasticity of demand for Dishwashing Liquid.
B) Calculate the optimal price for Dishwashing Liquid if marginal cost is 7070 cents per unit.
Option 1
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