The Demand Equation Is Estimated To Be 50 3p 2po Where Po Is The Price Of Some (1)
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The demand equation is estimated to be 50 – 3P + 2Po , where Po is the price of some other good. Assune the average value of P is $ 3 and the average value of Po is $ 6.a. what is the price elasticity at the average values of P and Po?how should the price of the good be changed to increase total revenues?
