If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).

If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the marginal cost to make a good is $78 and the price elasticity of demand
is -6, what price should be charged via the optimal markup rule?
Enter as a value (round to two decimal places if necessary).

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