The management believes that every 9% decrease in the selling price of one of the company's products would lead to a 15% increase in the product's total unit sales. The product's variable cost is ₱11.80 per unit. The product's price elasticity of demand is closest to: a. -1.12 b. -1.34 c. -1.61 d. -1.48 The product's profit-maximizing price is closest to: a. ₱31.19 b. ₱46.07 c. ₱106.31 d. ₱36.28

The management believes that every 9% decrease in the selling price of one of the company's products would lead to a 15% increase in the product's total unit sales. The product's variable cost is ₱11.80 per unit. The product's price elasticity of demand is closest to: a. -1.12 b. -1.34 c. -1.61 d. -1.48 The product's profit-maximizing price is closest to: a. ₱31.19 b. ₱46.07 c. ₱106.31 d. ₱36.28

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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