Multiple Choice
Tracey Biogenetics, Inc purchases anti-snoring devices from a manufacturer in China and distributes them to retail stores throughout the United States. Tracey's management has estimated that within the range of feasible prices for the devices, the elasticity of demand of the retail stores is -2.0. If Tracey can obtain any quantity of devices from the manufacturer for a fixed price of $8, what price should it charge for its anti-snoring devices?
A) $6.00
B) $16.00
C) $26.00
D) $36.00
E) $46.00
Correct Answer:
Verified
Correct Answer:
Verified
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