Firms research department has estimated elasticity of demand

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Your firm's research department has estimated the elasticity of demand for toys to be -0.7. As the manager of the firm, determine the impact of an 8% increase in toy prices on your total revenues.

Reference no: EM131006681

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Firms research department has estimated elasticity of demand : Your firm's research department has estimated the elasticity of demand for toys to be -0.7. As the manager of the firm, determine the impact of an 8% increase in toy prices on your total revenues.

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