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The teenager company makes and sell skateboards at an average price of $ 70 eacch. during the past year they sold 4000 of these skateboards. the company believes that the price elasticity for this product is about -2.5. if it decreases the price to $ 63 what should be the quantity sold? will revenue increase? why?

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Total revenue is studied. Why revenue will increase is determined.

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the teenager company makes and sell skateboards at an average price of $ 70 eacch. during the past year they sold 4000 of these skateboards. the company believes that the price elasticity for this product is about -2.5. if it decreases the price to $ 63 what should be ...

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