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Managerial Economics & Business Strategy 8th Edition by Michael Baye,Jeff Prince
Edition 8ISBN: 978-1259129858Managerial Economics & Business Strategy 8th Edition by Michael Baye,Jeff Prince
Edition 8ISBN: 978-1259129858 Exercise 5
You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q = 150,000 - 1.5 P, what price should you charge in order to maximize revenues from sales of the Highlander?
Explanation
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Elasticity of demand : It is the ratio o...
Managerial Economics & Business Strategy 8th Edition by Michael Baye,Jeff Prince
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