If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 21SQ: If bus travel is an inferior good, its income elasticity of demand is a. strictly greater than 1. b....
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dont use chat answer and correct answwer i will 10 upvotes

If the marginal cost to make a good is $78 and the price elasticity of demand
is -6, what price should be charged via the optimal markup rule?
Enter as a value (round to two decimal places if necessary).
Transcribed Image Text:If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).
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