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1. Pens R Us sells designer-brand pens. The demand equation for annual sales of these pens is q=-900p +60,000, where p i
Posted: Wed Jul 06, 2022 1:20 pm
by answerhappygod
- 1 Pens R Us Sells Designer Brand Pens The Demand Equation For Annual Sales Of These Pens Is Q 900p 60 000 Where P I 1 (19.08 KiB) Viewed 14 times
1. Pens R Us sells designer-brand pens. The demand equation for annual sales of these pens is q=-900p +60,000, where p is the price per pen. They are very popular and the
company has been thinking of raising the price. Find the elasticity of demand if the price is currently $25. Is the demand elastic, inelastic, or unit elastic? Based on the elasticity of demand, should they increase the price by 20%? Support your decision by calculating total revenue before and after the price increase.