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Richardson’s Stores, Inc. cut prices on Men’s Runnng shoes by 2 percent during the first quarter and enjoyed a 4-percent increase in unit sales over the period as compared to a year earlier
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a.Calculate the point price elasticity of demand for Richardson’s Stores, Inc
b. Calculate the company’s optimal shoe price if marginal cost is $10 per unit
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https://brainmass.com/business/business-management/calculating-point-elasticity-optimal-price-236892
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Solution:
Point Elasticity = (% change in Quantity) / (% change …
