a. If P = $3 and MC = $1, calculate the markup over MC as a percentage of price. b. If price elasticity of demand is -2.

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answerhappygod
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a. If P = $3 and MC = $1, calculate the markup over MC as a percentage of price. b. If price elasticity of demand is -2.

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a. If P = $3 and MC = $1, calculate the markup over MC as a
percentage of price.
b. If price elasticity of demand is -2.5, calculate the markup
over MC as a percentage of price.
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