ABC, Inc sells it toys for $15 with a sales volume of 30,000 units per quarter. Assume the price elasticity coefficient is -0.5 and ABC, Inc raises the price to $16 in anticipation of the Christmas season. Estimated 4th quarter sales volume will be?
Use Are formula elasticity of demand.© BrainMass Inc. brainmass.com March 21, 2019, 8:03 pm ad1c9bdddf
The Arc formula elasticity of demand is applied.