Answered: If the marginal revenue from a product…

If the marginal revenue from a product is $15 and the price elasticity of demand is −1.2, what is the price of the product?

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 revenue from a product is $15 and the price elasticity of demand is −1.2, what is the price of the product?

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