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[Step-by-Step] Optimal Price . Last week, Discount Food Stores, Inc. reduced the average price on the 22 ounce size of Dishwashing Liquid by 1%. In response,

Question: Optimal Price . Last week, Discount Food Stores, Inc. reduced the average price on the 22 ounce size of Dishwashing Liquid by 1%. In response, sales jumped by 8%.

A. Calculate the point price elasticity of demand for Dishwashing Liquid.
B. Calculate the optimal price for Dishwashing Liquid if marginal cost is 70¢ per unit.

Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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