QUESTION 34 The price elasticity of toy cars that you sell is -3.00 [negative 3]; you currently charge a price of $9.00 and marginal cost of toy cars is $8.00. Using the above information, you should be able to find the price that will maximize your profits. a. $8.00 b. $9.50 Oc. $13.50 d. $13.00 e. $11.00 Of. $10.00 g. $10.50 h. $9.00 i. $8.50 j. $12.00 k. $12.50 OI. $11.50

QUESTION 34 The price elasticity of toy cars that you sell is -3.00 [negative 3]; you currently charge a price of $9.00 and marginal cost of toy cars is $8.00. Using the above information, you should be able to find the price that will maximize your profits. a. $8.00 b. $9.50 Oc. $13.50 d. $13.00 e. $11.00 Of. $10.00 g. $10.50 h. $9.00 i. $8.50 j. $12.00 k. $12.50 OI. $11.50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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