question archive A firm sells a product for $25 and the product has an own-price elasticity of -4
A firm sells a product for $25 and the product has an own-price elasticity of -4
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A firm sells a product for $25 and the product has an own-price elasticity of -4. Currently, they sell 1,000 units. If they lower the price by a dollar, how many more units should they expect to sell?
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