Illustrate the steps comprised in pricing the television

Reference no: EM1327237

Explanation to "Price Elasticity of Demand" question

You have recently received a report indicating that the Price elasticity of demand for flat screen LG TV's is -1.6.

1. Explain the steps involved in pricing the television units in order to maximize total revenue. Use diagrams to explain your answer.

Reference no: EM1327237

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