Calculate the markup price if MC = $10.00 and price elasticity equals 1.7
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$5.88 |
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$17.24 |
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$24.27 |
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$32.42 |
Calculate the markup price if MC=$10.00 and price elasticity equals1.7
$24.27
P= MC[n/1-n]
where MC = marginal cost
n= price elasticity
P= 10.00[1.7/(1-1.7)]
P= 10.00[1.7/0.7]
P=10.00[2.427]
P= 24.27
Mark up price =$24.27
Calculate the markup price if MC = $10.00 and price elasticity equals 1.7 $5.88 $17.24 $24.27...