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Calculate the point price elasticity of demand

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Reference no: EM131204098

Optimal Price. Last week, Discount Food Stores, Inc. reduced the average price on the 22 ounce size of Dishwashing Liquid by 1%. In response, sales jumped by 8%.

A. Calculate the point price elasticity of demand for Dishwashing Liquid.

B. Calculate the optimal price for Dishwashing Liquid if marginal cost is 70 per unit.

Reference no: EM131204098

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